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

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.

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