Monday, November 29, 2004

Antitrust Investigation of VISA in Moscow

From Friday's Ria Novosty, a Russian language news service available through Westlaw:

"Next week the Federal Antitrust Service (FAS) will make a decision on preparing a case against Visa International, FAS deputy head Andrei Kashevarov told journalists Friday. According to him, the FAS has reason to believe that Visa International had violated the legislation on financial services market competition. Mr. Kashevarov said Visa's share of the market was definitely over 40%.

"He said the FAS would use the case to more promptly obtain the necessary information on banks that are part of the Visa International network."

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