This is one of the most important operations ever carried out in the bank card sector and one which should leave its mark.
The American bank Capital One announced on Monday evening the acquisition of its compatriot Discover, specializing in credit cards, for 35.3 billion dollars.
The operation, which will be closely scrutinized by the American antitrust authorities, will be carried out by exchange of shares.
If it comes to an end (end of 2024 or beginning of 2025), it will give birth to the largest American credit card company (by loan volumes), 60% owned by Capital One and the balance by Discover.
“This acquisition will help build a payments network that can compete with the largest payment networks and companies
,” assures Capital One founder and CEO Richard Fairbank.
Ninth American bank (with 479 billion in assets on the balance sheet), Capital One specializes in consumer credit, real estate and card management…
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