Danske Bank: EU clears joint acquisition

(CercleFinance.com) - The European Commission announces that it has approved the merger of Vipps AS (Norway) and MobilePay A/S (Denmark) and their joint control by the Danish bank Danske Bank A/S and the Norwegian companies DNB Bank ASA ("DNB"), SpareBank 1 Betaling AS ("SB1"), Eika VBB AS ("Eika"), Balder Betaling AS ("Balder") and Vipps Holding AS.


The merging companies are providers of mobile payment services, while Danske Bank and DNB are commercial banks.

SB1, Eika, Balder and Vipps Holding are holding companies owned by banks.

The Commission concluded that the transaction would not raise competition concerns because, although the activities of the merging companies overlap in the provision of payment services, Vipps operates in Norway and MobilePay in Denmark and Finland.


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