Visa split this business off years ago, and now it might pay $20 billion to get it back

Visa once owned Visa Europe and now the company might pay $20 billion to get it back. 

According to a report from Bloomberg, Visa is in talks to buy Visa Europe, a former subsidiary of the credit card giant which it split off in 2007 ahead of its initial public offering in the US. 

The report, which cites people with knowledge of the matter, said the talks are at an early stage and could still fall apart. 

Following the news, shares of Visa gained more than 4% on Friday. 

In its report, Bloomberg notes that currently Visa Europe is owned by a consortium of 3,000 European banks, and this structure has an option that would force Visa to buy the company within 9 months if exercised. 

Bloomberg also noted that in 2014, Visa CEO Charlie Scharf said, "Over the long term, we absolutely would love Visa Europe to be part of the company."

Read the full report at Bloomberg here »