The Italian Antitrust Authority clears with remedies the merger between the two main operators for credit card business (Istituto Centrale delle Banche Popolari Italiane - Cartasì)

On 27 March 2009, the Italian Antitrust Authority (IAA) conditionally cleared the acquisition of SI Holding (SI), the financial holding company controlling the CartaSì Group, by Istituto Centrale delle Banche Popolari Italiane (ICBPI). Both SI and ICBPI are controlled by Italian banks, which also are customers of the parties. ICBPI and SI Holding are the most important credit card service providers in Italy, supplying their services both to financial institutions as well as to small “independent” banks - i.e. banks that are not integrated with other companies active in the credit card business. The IAA considered that the transaction would have affected the issuing, acquiring and processing of credit cards segments, with each phase potentially representing a separate relevant market for

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  • Freshfields Bruckhaus Deringer (Rome)

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Gian Luca Zampa, The Italian Antitrust Authority clears with remedies the merger between the two main operators for credit card business (Istituto Centrale delle Banche Popolari Italiane - Cartasì), 5 March 2009, e-Competitions Bulletin March 2009, Art. N° 26238

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