The American bank Capital One announced on Monday evening the acquisition of its compatriot Discover, specializing in credit cards. 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, 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.