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MarketScreener Homepage  >  Equities  >  Nasdaq  >  PayPal Holdings    PYPL

PAYPAL HOLDINGS

(PYPL)
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PayPal : Britain orders in-depth review of PayPal-iZettle deal

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12/05/2018 | 09:41am EDT
FILE PHOTO:  Logo of iZettle company is pictured in the headquarters in Stockholm

(Reuters) - Britain's competition watchdog on Wednesday ordered an in-depth investigation of PayPal Holdings Inc $2.2 billion (1.73 billion pounds) takeover of Swedish financial technology startup iZettle, saying the U.S. group had not done enough to address its concerns.

The Competition and Markets Authority (CMA) said, PayPal had not resolved concerns about how the deal, PayPal's biggest ever, could hurt competition and lead to higher prices, or a lower quality service, for customers in the UK mobile payments market.

The regulator has also flagged concerns the merger could damage competition in the emerging market for "omni-channel" payment services, or single payment processing platforms that can work across all sales channels and devices.

PayPal is working with the CMA and is committed to demonstrating the market is, and will remain, competitive, a company spokesman said.

The acquisition, which would allow the U.S. payments processor to expand into the retail payment terminals business in international markets, closed in September.

The deal will now be examined by a CMA-appointed inquiry body, with a final decision due by May 21, the CMA said.

PayPal feels the chances of getting the merger cleared by the inquiry panel are "very good", a source familiar with the matter said.

Founded in 2010, iZettle is one of the largest fintech start-ups to emerge from Europe, and one of a string of successful venture-backed companies to emerge from Sweden in the past decade or more.

(Reporting by Shashwat Awasthi and Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr and Mark Potter)

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Financials ($)
Sales 2019 17 985 M
EBIT 2019 4 069 M
Net income 2019 2 579 M
Finance 2019 9 376 M
Yield 2019 -
P/E ratio 2019 50,21
P/E ratio 2020 40,85
EV / Sales 2019 6,48x
EV / Sales 2020 5,34x
Capitalization 126 B
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Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 105 $
Spread / Average Target -2,2%
EPS Revisions
Managers
NameTitle
Daniel H. Schulman President, Chief Executive Officer & Director
John J. Donahoe Chairman
William J. Ready Chief Operating Officer & Executive Vice President
John D. Rainey CFO & EVP-Global Customer Operations
Sri Shivananda Chief Technology Officer & Senior Vice President
Sector and Competitors
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MIMECAST LTD41.33%2 872