| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/07/1436 (3.10.07) |
| Publication Date | 03/10/2007 |
| Content Type | News |
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The European Commission has fined Visa €10,200,000 for a serious infringement of the EC Treaty and EEA Agreement rules on restrictive business practices (Article 81 of the EC Treaty and Article 53 of the EEA Agreement). From March 2000 to September 2006, Visa refused to admit Morgan Stanley as a member without an objective justification. The Commission found that the exclusion of Morgan Stanley from Visa membership restricted competition in the provision of credit card acceptance services to merchants in the United Kingdom. Morgan Stanley had concrete plans and expertise to contribute to more efficient competition and generate positive effects on prices and the quality of service in a highly concentrated market. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1436&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
