Visa Inc. (NYSE: V) today revealed the European Commission has given its approval for the proposed acquisition of Visa Europe Ltd. by it.
According to Visa, it has received all regulatory approvals now that is required for the acquisition. The company indicated that the transaction has already been cleared by both the Jersey and the Turkish competition authorities.
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The card processor said the transaction is expected to close in Visa Inc.'s fiscal third quarter of 2016. The company would reveal the closing once it has occurred.
The stock traded 0.88 percent higher on Thursday.