PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it welcomes the United Kingdom Competition and Markets Authority’s (CMA) decision to provisionally clear its previously completed acquisition of iZettle. The CMA found that the merger of PayPal and iZettle does not raise competition concerns in the UK.
“We are pleased the CMA has provisionally cleared our transaction,” said Dan Schulman, president and CEO, PayPal. “We look forward to adding iZettle’s products and services to our platform to help small businesses access even more affordable tools to run their shops and compete against the retail giants.”
The CMA has published these provisional findings on its website. Its final decision is expected by mid-June after collecting views on the provisional findings and assessing all evidence.
PayPal will continue to work closely with the CMA through the remainder of its review. PayPal’s acquisition of iZettle was completed on September 20, 2018 and is not subject to review in any other country.