NEW YORK (TheStreet) -- Shares of MasterCard (MA) are down by 0.79% to $92.48 in late morning trading on Monday, following a Bloomberg report suggesting the European Union is preparing to hit the credit card company with an antitrust complaint relating to the company's card payment fees.
It is possible that EU regulators will send a statement of objections to MasterCard before the end of next month, sources told Bloomberg adding that these filings in anti-trust investigations generally precede fines.
The EU has been going after payment fees on credit and debit cards for over 10 years and has warned that it is generally agreed that the charges are anti-competitive.
"MasterCard being much more internationally focused, it has been more inclined to fight than to settle so far," Ruth Milligan, a senior adviser on payment services at EuroCommerce, told Bloomberg.
Separately, TheStreet Ratings team rates MASTERCARD INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MASTERCARD INC (MA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."