Italian state lender Cassa depositi e prestiti SpA is planning to increase its stake in Italian payments provider SIA SpA to about 83% by buying stakes from other shareholders, Reuters reported, citing sources.
SIA could merge with bigger rival Nexi, and Cassa depositi e prestiti holding a bigger stake could increase the chances of a potential tie-up, sources said.
Cassa depositi e prestiti and Poste Italiane SpA have stakes in SIA through investment vehicle FSIA Investimenti, which owns 49.5% of the company.
Cassa depositi e prestiti will buy 17.05% shares from Italian infrastructure fund F2i, 8.64% from HAT Orizzonte Sgr. and 3.97% each from UniCredit SpA and Intesa Sanpaolo SpA, according to Reuters.