Market Chatter: Visa, Mastercard Win Right to Appeal UK Ruling on Merchant Fees

MT Newswires Live03-18

Visa (V) and Mastercard (MA) can appeal a court judgment by the UK Competition Appeal Tribunal that ruled their default multilateral interchange fees charged to retailers breach European competition law, Reuters reported Tuesday, citing a ruling by the UK Court of Appeal.

The report said the companies welcomed the decision, while law firm Scott+Scott, which represents the claimants, said it was "confident that we will resist the application successfully at the substantive appeal."

Visa and Mastercard did not immediately reply to a request for comment from MT Newswires.

Visa shares were little changed in Tuesday trading, and Mastercard rose 0.3%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 310.01, Change: -0.10, Percent Change: -0.03

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