Foreign news: Visa Europe sales a windfall for banks

Banking Day staff
  • Some of Britain's biggest banks are eyeing multi-billion pound windfalls from the potential £13 billion sale of the Visa Europe payments network. Barclays alone could make more than £1 billion from a sale and Lloyds may collect more than £600 million. Visa Europe is owned by more than 3000 banks across Europe. The Sunday Times says Visa has made no secret of its desire to regain control of its European arm, which was jettisoned when the parent floated in New York in 2008.