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4-Traders Homepage  >  Equities  >  Nyse  >  Visa    V

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MasterCard says to appeal EU court fees ruling

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05/24/2012 | 04:02pm CEST

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.
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Sales 2017 18 136 M
EBIT 2017 12 088 M
Net income 2017 6 840 M
Debt 2017 11 143 M
Yield 2017 0,63%
P/E ratio 2017 37,78
P/E ratio 2018 26,99
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Chart VISA
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Visa Technical Analysis Chart | V | US92826C8394 | 4-Traders
Technical analysis trends VISA
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TrendsBullishBullishBullish
Income Statement Evolution
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Average target price 115 $
Spread / Average Target 7,2%
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NameTitle
Alfred F. Kelly Chief Executive Officer & Director
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Robert W. Matschullat Independent Chairman
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Rajat Taneja Executive Vice President-Technology
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