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Discover receives antitrust approval to buy Diners Club |
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Discover Financial Services has received US antitrust approval to acquire the Diners Club International card business from Citigroup. Antitrust authorities finalised their review of the USD 165 million deal without taking any action to stop it, the US Federal Trade Commission said.
In April, Citigroup agreed to sell its Diners Club International credit card network to Discover. Diners Club has over USD 30 billion of annual card volume outside North America. The deal will help Discover expand its global presence, especially among business travelers. |
