Sunday, November 20, 2005

NOVA Information Systems to Acquire Citibank Card Acceptance in Europe

Yahoo reports that NOVA Information Systems is to Acquire Citibank Card Acceptance in Europe. Effectively it is euroConex that has entered into a definitive agreement to acquire Citibank Card Acceptance (CCA). This doubles the merchant signup base of euroConnex to 200.000. Which is a further major step into cross-border acquiring in Europe.

I do wonder however if the deal has any povisions to ensure that the old owner of CCA pays for any fines that the Eu Commission may want to give later on as a result of their card competition study....