Utilize the input text as a context reference, choose the right relationship between Visa Inc and Visa Europe from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

News (Other OTC: NWSAL - news ) of the likely terms of a deal comes just weeks after Visa Inc confirmed that it was in discussions with Visa Europe about a combination of their businesses, saying that it hoped to agree a transaction by the end of October.

Answer: subsidiary