The European Union said last week that it would drop an antitrust investigation of Visa International.
In a press release, the European Union said it is satisfied with Visa International's decision to drop a proposal that would have prevented European credit card companies from issuing American Express cards.
The European Union launched a probe in January after American Express filed a complaint claiming that Visa's proposal, which is an established rule in the United States, was anti-competitive.
Dean Witter, Discover & Co. and Diners Club International subsequently also filed complaints with the European Union.
Karl Van Miert, its competition commissioner, said on Wednesday that his office would "soon close" its antitrust investigation.
Mr. Van Miert warned Visa shortly before the Visa directors met last month that the proposal could not be accepted in Europe.
He said Visa's proposal, if adopted, would have violated the European competition rules.
Earlier last week, MasterCard International's directors voted to adopt a similar policy in the United States. Its European affiliate, Europay, has not yet announced a decision on this matter. - Lisa Fickenscher
