Italy’s Nexi said on Wednesday it had signed a merger deed with Nordic rival Nets to create Europe’s largest payments group.
The planned all-share merger will give Nexi greater exposure to attractive fast-growing European areas and the combined group will be well-positioned to chase M&A opportunities, the Italian payment group said in a statement.
The group, which is expected to finalise a second major merger with Italian payment group SIA in the third quarter, will be lead by the current Nexi Chief Executive Paolo Bertoluzzo.
The closing is expected to become effective from July, 1.
Source: Reuters.com