News

Office of Fair Trading investigates proposed Link, TNS venture

January 27, 2005

LONDON - The UK Office of Fair Trading announced Jan. 27 that it has asked the UK Competition Commission to investigate the anticipated joint venture between Link Interchange Network Ltd. and Transaction Network Services (UK) Ltd., according to a news release.

The two companies plan to provide ATM and card-issuing services.

OFT, however, is concerned that the venture between Link's ATM network and TNS, which provides transaction processing services, could result in a "substantial lessening of competition" within the ATM transaction-processing market.

"The proposed joint venture would bring together the two principal suppliers of outsourced ATM transaction processing services. This might substantially lessen competition," said John Vickers, OFT chairman.

The commission is expected to make its report by July 13.