The Italian bank Nexi, formerly known as Istituto Centrale delle Banche Popolari Italiane, is in exclusive talks with Denmark’s Nets for a merger worth $8 billion. Nexi is currently Italy’s biggest payment group.
Through this merger, Nexi will have access to advanced digital payments marketers in northern Europe, where Nets has a leading position. It will also offer Nexi the opportunity to grow its market in Central and Eastern Europe. The potential deal would follow the agreed upon tie-up between SIA and Nexi, expected to close in summer of 2021, valued at $ 5 billion.
Through the recent announcement of the SIA deal and the potential for another multi-billion dollar payments merger with Nets, Nexi is clearly looking to pivot towards the future through strategic acquisitions. By acting aggressively, the company has a great chance to build up its digital payment presence and capitalize on the trend which has been accelerated by the pandemic.