Part of the fallout from Fifth Third Bancorp’s acquisition of Old Kent Financial Corp. may be the termination of Old Kent’s merchant marketing agreement with First Data Merchant Services, a subsidiary of First Data Corp. of Atlanta.

Neither banking company said this option was being considered, but industry observers speculated that folding Old Kent’s merchant activities into Fifth Third’s processing subsidiary, Midwest Payment Systems Inc., would probably make the most sense, given Fifth Third’s persistent interest in expanding that part of its business.

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