Deals Exist, But Tradeoffs Must Be Considered, First Data Exec Says

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Despite international merchant-processing portfolios that typically are smaller than those in the United States, "the opportunities (for acquisition) are definitely there," David Yates, president of First Data International, a unit of U.S.-based First Data Corp., told analysts last week during a conference call about the transaction processor's second-quarter earnings (CardLine Global, 8/14). Though Yates did not say First Data is pursuing any of them, he said some banks, stung by the economic crisis, are considering selling their portfolios to raise money. He cautioned that First Data has to weigh the value of buying into these portfolios against the potential financial benefit.