The deal follows an accord with smaller Italy-based peer SIA. A merger would allow Nexi to gain access to more advanced digital payment countries such as the Nordics where Nets has a forefront position, while also obtaining exposure to Central and Eastern Europe where the industry has still room to grow.
Reportedly, the exclusive talks to get to a binding agreement would last 10 days. A deal would see Nets merged into Nexi in an all-share transaction that would use the same multiples for both groups on expected 2020 core earnings. Apparently, synergies from the merger were estimated at around EUR 150 million.
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