WORLDPAY IN £9bn BUYOUT

US payments group Vantiv yesterday splashed out £9.3billion to buy British rival Worldpay.

The new group – which will carry the Worldpay name – will be based in Cincinnati and London. It boasts a market value of around £22bn and will process 40 billion transactions in 146 countries.

“Our unique combination will mean we can offer more payment solutions to businesses enabling them to meet consumers’ increasing demands,” said co-chief executive Philip Jansen. However, the group admitted there will “inevitably” be job losses.