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.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

Read more from Eugenia Jimenez

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