BankAmerica Corp. is planning an about-face in the merchant credit card business, buying back shares of BA Merchant Services issued in a partial public spinoff less than two years ago.

On the heels of the BankAmerica merger with NationsBank Corp., BankAmerica announced its intention last week to acquire the merchant processor's publicly owned class A shares for $15.50 each, or $252.1 million.

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