PayPal’s US$2.2 billion acquisition of European financial-technology startup iZettle is being scrutinized by the UK antitrust watchdog over concerns the deal could lead to higher prices for payment services and reduce competition, reported The Wall Street Journal.
PayPal, which closed the deal in September, could ultimately face pressure to unwind part of the transaction that centers on the companies’ businesses in the UK unless it addresses the concerns from the Competition and Markets Authority (CMA) in that market.
“We are now working to address the CMA’s concerns and demonstrate that the market will remain competitive, so we can move forward with integrating iZettle into our global platform,” a PayPal spokesman wrote in an emailed statement.
