Britain refers Paypal-iZettle merger for in-depth review

Britain's competition regulator said on Wednesday that Paypal Holdings Inc's $2.2 billion takeover of Swedish financial technology startup iZettle would be referred for an in-depth review.

The Competition and Markets Authority (CMA) said, Paypal had not addressed its concerns on how the deal could hurt competition and could lead to higher prices for customers, or worse quality of service.

The deadline for a final decision on the matter is May 21, 2019, the CMA said.