New Payments Behemoth Emerges As EU Approves $21.5bn Merger

The European Commission has approved a $21.5bn merger between payment giants TSYS and Global Payments after a review of whether the deal could give rise to competition concerns.

The commission announced on Tuesday that the merger would “raise no competition concerns”, citing the lack of overlap between the two companies’ activities and the limited scope for the new entity to demonstrate an anti-competitive advantage.

The case had been open since August.

Both companies are U.S.-based entities, operating in different spheres of payments. The combined entity will operate under the name Global Payments.

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