Poste Italiane targets Sia for digital push
Poste Italiane is considering to take a 34.5% stake in bank payments provider Sia from Italian state lender Cassa Depositi e Prestiti (CDP).
According to the Italian daily Sole 24 Ore, Poste Italiane – already owning an indirect share of around 15% in Sia – is in talks with JP Morgan to assess the further acquisition aimed at boosting Poste Italiane digital presence. Further details on the transaction have not been disclosed yet.
Poste Italiane currently holds 30% of the Fsia Investimenti vehicle controlled by Cdp Equity that holds 49.48% of Sia. Other shareholders are F2i with 17,05%, the Hat Orizzonte fund with 8.64% and some banks including Banco Bpm (4.82% ), Intesa Sanpaolo (4.05%), UniCredit (3.97%), Mediolanum (2.85%), and Deutsche Bank (2.58%).
Sia provides a range of services for financial institutions, central banks and corporate and private bodies, including the management of electronic cards and digital payments.