Italy sells digital payment unit PagoPA to Poste, state mint for up to 500 million euros [Yahoo! Finance]
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Source: Yahoo! Finance
?administrations, to the state mint and to state-backed postal ?group Poste Italiane for up to 500 million euros ($586 million), the mint said ?on Friday. The deal has raised concerns among Italian banks in recent months, as it could boost competition for smaller lenders already struggling to keep pace with rapid changes in the payments sector. The 500-million-euro valuation ?includes variable components and ?future payments, the mint said, without giving further details. Sources previously told Reuters that lenders had voiced concerns ?to the Treasury that Poste could use PagoPA to strengthen its position in digital payments, where it already has a significant presence, competing directly ?with banks. In a bid to address the concerns raised by ?the banks but also by Italy's antitrust authority, the deal hands 51% of PagoPA to the mint, while Milan-listed Poste will own the remaining 49%. Banks are also facing growing competition on payments from global tech players such as
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Earnings
- 10/28/25 - Beat
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Sec Filings
- 12/16/25 - Form 4
- 12/16/25 - Form 4
- 12/1/25 - Form 4
- PYPL's page on the SEC website