Spain: Santander cleared by CNMC to consolidate POS services

CNMC, a market and competition regulator in Spain, has authorized Banco Santander to seek the acquisition of a 51% stake that the bank does not yet control in its Point of Sale Terminal Services (POS) business for the use of Credit or debt.

The buyback of this business comes after Santander, in October 2012, reached an agreement with Elavon, a US Bancorp subsidiary, to cede 51% of its business in Spain to TPVs.

With this operation, the bank that presides Ana Botín will recover the autonomy in the management of the POS, an important element in the relationship with the customers and that Santander seeks to reinforce within the framework of its strategy.

Full Content: Expansion

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