Prior to the arrangement, Nexi was the country’s biggest payments firm and it is estimated that the new amalgamation is expected to take up 70% of the domestic market share. The all-share agreement will give Nexi close to 70% ownership of the new company while SIA will maintain a US$5.4 billion equity stake. The deal is expected to close by the summer of 2021.
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Nexi-SIA Merger to Create Monster Italian Payments Firm
Italy's Nexi made a deal with rival SIA to create a new digital payments “behemoth” with a market cap of almost US$18 billion. So reports Cointelegraph.
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