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EU Approves Morpho Deal After Chip Card Competition Investigation

European regulators have given the green light for a US private equity firm to acquire France-based Morpho after the firm addressed concerns the deal would limit competition in the French smart payment card market.

The European Commission’s competition arm announced the approval of Advent International’s bid on Wednesday, providing that Morpho's chip card-based payment business in France is divested.

This arrangement was proposed to address concerns that the merger would reduce the number of providers in an already concentrated market, as Advent would then own two of the three firms  manufacturing such products.

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