Shareholders in MasterCard, the credit card company, last night approved its $2.45bn (€2.1bn) initial public offering, the largest deal in the US pipeline.

The company filed for the flotation in September. Goldman Sachs is the lead underwriter and Citigroup, HSBC and JP Morgan are joint bookrunners. The deal is due in the first quarter of 2006. It could value MasterCard at up to $10bn.

Shanny Basar in New York

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MasterCard edges closer to $2.5bn IPO

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