Italy’s antitrust authority announced on Thursday, October 14, it had given a green light to Nexi’s planned acquisition of smaller rival SIA but imposed some conditions on the two groups.
Last month Italy’s competition watchdog said it had opened an investigation into Nexi’s merger with SIA, citing antitrust concerns in the country’s digital payments industry.
Italy’s watchdog added that the measures imposed aimed at avoiding discrimination and granting efficiency to any potential new players in the sector.
Nexi said in a statement it would implement within the required timeframe the measures demanded by the authority to clear the deal.
“Today’s authorisation is a further step towards the closing of the transaction, which will be completed as soon as practicable,” Nexi added.
The watchdog said in a statement that the measures imposed were aimed at avoiding discrimination and granting efficiency to any potential new players in the sector.
It added that the merger could strengthen or create a dominant position in some specific sectors, such as domestic card processing and clearing services, although the situation was expected to be temporary.
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