February 22, 2013 / 9:01 AM / in 5 years

EU regulators drop antitrust probe into e-payments market

PARIS (Reuters) - EU regulators will drop a 16-month investigation into a group of banks including HSBC, Deutsche Bank (DBKGn.DE) and BBVA (BBVA.MC), after it abandoned plans to launch a standardization process for e-payments, the EU’s antitrust chief said on Friday.

    The decision by the European Payments Council “will allow us to close our investigation because alternative, non-bank systems could then remain in or enter the market”, EU Competition Commissioner Joaquin Almunia told a Concurrences Journal conference in Paris.

    The European Commission opened the investigation into the EPC in September 2011 following a complaint by German online payment provider Payment Network AG.

    Reporting by Foo Yun CheeCharlie Dunmore

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