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Antitrust case against MasterCard is dropped by E.U.
April 1, 2009
The New York Times:MasterCard has settled an antitrust case by agreeing to reduce fees that raise costs for retailers, European Union regulators said Wednesday. But MasterCard said that its measures were provisional, and that it would continue a broader battle over the level of the fees in court. Competition Commissioner Neelie Kroes of the E.U. said the move by MasterCard could save money for retailers and consumers, particularly those shopping across European borders, and she underlined that the settlement was an element in a broad effort to encourage spending and give the economy a boost. The European Commission ruled in December 2007 that MasterCard's cross-border transaction fees broke European Union antitrust rules.
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