CCP okays cross-border assets’ acquisition

ISLAMABAD: The Competition Commission of Pakistan (CCP) has green-lighted a merger within the cross-border remittances and currency exchange business.

An official announcement of the CCP said the approved transaction entails the acquisition of certain assets of Wall Street Exchange Company (Pvt) Ltd (WSE) by UBL Currency Exchange (Pvt) Ltd (UCE) pursuant to a letter of intent (LoI) and later through asset purchase arrangement (APA).

UCE, recently incorporated as a currency exchange company...