The new corporation will be owned by its members and thencommence the IPO process on a major stock exchange, but the branddid not indicate which one. The transformation is expected to takebetween 12-18 months.
The move has been approved by the boards of directors in each ofVisa's six regions and Visa International voted unanimously toapprove it. It remains subject to the approval of members andregulators.
Some industry watchers have wondered if the move to a publiccompany might trigger some anti-trust concerns with regulators. ButDavid John, a banking analyst with the predominantly conservativeHeritage Foundation, a public policy firm in Washington, D.C.,doubted that there would be many anti-trust concerns.
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