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EU rules that Vipps may not merge with Finnish company Pivo

Vipps - MobilePayPhoto: Gorm Kallestad / NTB

Vipps and Danish MobilePay are not allowed to merge with the Finnish mobile wallet app Pivo.

The three companies announced last year that they wanted to merge. After the European Commission expressed concern about the merger, it is now clear that Finnish Pivo will not be allowed to merge, the newspaper Dagens Næringsliv reports.

The Commission believes that the three companies would have too strong a market position if they merged, as Pivo and MobilePay have divided the market between them in Finland.

“In Norway, Vipps is by far the largest player, and MobilePay is in the same position in Denmark, but in Finland, there are two major players. The EU was concerned that the merger would result in too high a market concentration,” communications manager Caroline Lunde at Vipps stated.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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