Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Visa Inc    V   US92826C8394

VISA INC (V)

137
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

MasterCard says to appeal EU court fees ruling

05/24/2012 | 10:02am US/Eastern
Recommend:
0

MasterCard said it plans to appeal against a decision by Europe's second-highest court to dismiss its legal challenge to an EU ban on its cross-border credit card fees.

The Luxembourg-based General Court upheld a 2007 decision by the European Commission that MasterCard's cross-border multilateral interchange fee (MIF) levied on retailers' credit and debit card transactions breached EU antitrust rules and had to be changed.

"It is our intention to appeal as soon as we've analysed the more than 60-page judgment," MasterCard President Javier Perez said in a statement on Thursday. "We will likely continue to discuss with the Commission what would be the best way forward."

For the time being, MasterCard will continue to apply reduced cross-border fees imposed since 2009 in a bid to avoid penalty payments for not complying with the 2007 decision, Perez said.

(Reporting by Foo Yun Chee, writing by Charlie Dunmore; editing by Rex Merrifield)

Stocks treated in this article : Mastercard Inc, Visa Inc.
Recommend :
0
React to this article
Latest news on VISA INC
8h agoDJMARKET SNAPSHOT : Long View On Stocks Is Best During Weak Earnings Season
2d agoDJObama Signs Bill Banning Iran U.N. Envoy From U.S.
2d agoDJObama Signs Bill Banning Iran U.N. Envoy From U.S.
3d ago WALL STREET WEEK AHEAD : Spring fever brings hope for U.S. earnings
3d ago VISA : Announces General Counsel Succession Plan; Creates New Vice Chairman Role..
4d ago Leash on expenses helps AmEx counter muted user spending
6d ago Goldman dodges a shareholder battle that dogs rivals
04/10 VISA : Announces General Counsel Succession Plan; Creates New Vice Chairman Role..
04/09 VISA : To Announce Fiscal Second Quarter 2014 Financial Results on April 24, 201..
04/09 VISA : Sequent Digital Issuance Platform Approved by Visa
Advertisement
Chart
Duration : Period :
Visa Inc Technical Analysis Chart | V | US92826C8394 | 4-Traders
Income Statement Evolution
Visa Inc : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF