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Visa to buy Visa Europe in deal worth up to 21.2 billion euros

But the market thinks it may be overpaying.

 

VISA

 

Visa Inc is to buy former subsidiary Visa Europe Ltd in a deal valued at up to 21.2 billion euros ($23.4 billion), putting the company in a stronger position to compete worldwide with MasterCard Inc.

Visa, the world’s largest credit and debit card company, said it would pay €16.5 billion up front (split two-thirds in cash, one-third in shares), with potential for an additional payment of up to €4.7 billion based on revenue targets four years after the close of the deal.

 

Read the full story at Furtune

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