Visa’s Prosa Deal Rejected by Mexico’s Antitrust Watchdog (1)

Visa Inc.’s planned takeover of payment processor Prosa was turned down by Mexico’s National Antitrust Commission in the first show of strength by the country’s new competition watchdog.

The rejection of Visa’s proposal to purchase a 51% stake in Prosa, a deal announced in December 2023, comes after the predecessor to the National Antitrust Commission, known as CNA, previously stated that current conditions were prohibiting effective competition in the market.

The CNA has maintained defunct regulator Cofece’s commission President Andrea Marván Saltiel and much of its staff.

The CNA said in a statement Friday that the solutions proposed ...