Italy's Nexi in talks to buy stake in Alpha Bank's payment business - sources (updated)

Alpha Real Estate Services SA

21/05/2021 11:08

(Adds details)
    MILAN, May 21 (Reuters) - Italian payments group Nexi
 NEXII.MI  is in talks with Alpha Bank to take a stake in the
Greek bank's retailers payment business, four sources close to
the matter said on Friday.
    Nexi, which is in the process of merging with smaller
domestic rival SIA, would set up a joint-venture with Alpha
which wants to retain a presence in the business, two of the
sources said. 
    Alpha, Nexi and SIA all declined to comment.
    Separately, two of the sources said SIA was also in
discussions to buy Greece's payment network firm Cardlink. 
    The two deals "would make Nexi-SIA a key player in the Greek
payments market," Jefferies analysts said in a note.
    The broker said Alpha Bank and rival Piraeus Bank together
held at least 30% of Greece's in-store payment market.
    Alpha Bank's retailers payment business processed around 9
billion euros in volumes in 2018 of which around 68% was linked
to domestic card transactions, Jefferies said. 
    News of the two transactions was first reported by MF.

 (Reporting by Valentina Za, Elisa Anzolin and Steve Jewkes in
Milan; George Giorgiopolous in Athens, editing by Maria Pia
Quaglia and Elaine Hardcastle)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))