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UK authorities clear PayPal-iZettle deal

Source: PayPal

PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it welcomes the United Kingdom Competition and Markets Authority's (CMA) decision to provide final and unconditional approval of the company’s previously completed acquisition of iZettle.

PayPal will now begin to integrate iZettle’s products and teams in the UK and around the globe, significantly strengthening PayPal’s in-store presence and platform.

"I am pleased our acquisition of iZettle has been unconditionally approved," said Dan Schulman, president and CEO, PayPal. “We believe there is huge potential in giving millions of small businesses access to affordable tools to run their business and look forward to working together with the iZettle team to make this a reality.”

The CMA has published its view on its website that the acquisition will not lead to competition concerns. 

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