Italy opens investigation into € 15 billion European fintech merger

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Law360 (September 3, 2021, 4:24 p.m. EDT) – Italy’s antitrust authority has opened an investigation into the planned € 15 billion ($ 17.6 billion) merger between European fintech companies SIA and Nexi, claiming that the merger could give the resulting company a dominant position in the digital payments space.

The two companies unveiled the merger deal in October 2020, saying they aimed to create a single company called PayTech, which would have a market capitalization of over 15 billion euros. The resulting company would be listed on the Italian Mercato Telematico Azionario and aimed to be “a European champion in digital payments,” the companies said in the announcement at the time.

At the time, …

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