Italy's state lender CDP sees no Nexi-Worldline merger for now
Italy's state lender CDP sees no Nexi-Worldline merger for now MILAN, Nov 3 (Reuters) - The leading investor in Italian payments group Nexi NEXII.MI said on Tuesday he did not expect it to merge with French rival Worldline in the immediate future, a possibility that has been floated in several media reports.
Nexi is currently focused on strengthening its business and executing its growth strategy, Dario Scannapieco, the chief executive of Cassa Depositi e Prestiti (CDP) told reporters on the sidelines of an event in Milan.
CDP Equity, the investment arm of CDP, holds a 27.638% stake in Nexi and plans to increase its holding to as much as 29.9% of the company's share capital.
"At the moment Nexi is focused on its own development efforts," Scannapieco said, when asked about the possibility of a tie-up between Europe's largest payments group by transaction volumes, and Worldline.
"As you have seen, it is delivering a solid performance. We are satisfied and consider it an important payments infrastructure not only for Italy but also at the European level," he added.
Asked whether Nexi's long-term future was as a standalone company, Scannapieco said that decision ultimately rested with the group's management.
(Giancarlo Navach, editing by Gavin Jones)