Skrill Acquisition by Neteller Still Undergoing FCA Scrutiny
- An official announcement issued by the bidder details that the Financial Conduct Authority has yet to approve the takeover deal
Earlier in the year, the parent company of Neteller, Optimal Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Plc (LON:OPAY) announced that it would be acquiring Skrill for €1.1 billion ($1.2 billion) however the deal is still pending. The U.K. regulator, the Financial Conduct Authority, has yet to give the green light for the acquisition.
If approved, the move would represent further consolidation in the sector after Skrill had completed the acquisition of Ukash earlier this year. The FCA has been in contact with Optimal Payments Plc (LON:OPAY) and is expected to have its final say on the deal no later than the 11th of August.
Optimal Payments Plc (LON:OPAY) elaborated in an official company statement that the U.K. watchdog has not requested any additional information from the firm. This should warrant the successful conclusion of the FCA review as the parent company of Neteller is expecting the approval for the takeover to be issued shortly.
Optimal Payments Plc (LON:OPAY) and Skrill will be able to conclude the deal on the receipt of change of control approval from the FCA, which is currently the only condition required in order to conclude the takeover.
Shares of the bidder traded lower by about 7 percent on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term's Alternative Investments Market in the immediate aftermath of the market open, only to recover later during the session to trade about 2 percent lower at the time of publication.
Earlier in the year, the parent company of Neteller, Optimal Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Plc (LON:OPAY) announced that it would be acquiring Skrill for €1.1 billion ($1.2 billion) however the deal is still pending. The U.K. regulator, the Financial Conduct Authority, has yet to give the green light for the acquisition.
If approved, the move would represent further consolidation in the sector after Skrill had completed the acquisition of Ukash earlier this year. The FCA has been in contact with Optimal Payments Plc (LON:OPAY) and is expected to have its final say on the deal no later than the 11th of August.
Optimal Payments Plc (LON:OPAY) elaborated in an official company statement that the U.K. watchdog has not requested any additional information from the firm. This should warrant the successful conclusion of the FCA review as the parent company of Neteller is expecting the approval for the takeover to be issued shortly.
Optimal Payments Plc (LON:OPAY) and Skrill will be able to conclude the deal on the receipt of change of control approval from the FCA, which is currently the only condition required in order to conclude the takeover.
Shares of the bidder traded lower by about 7 percent on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term's Alternative Investments Market in the immediate aftermath of the market open, only to recover later during the session to trade about 2 percent lower at the time of publication.