Reported about 5 hours ago
Nexi, the Italian payments group, has announced it is no longer committed to purchasing Sabadell's payments unit, following a failed hostile takeover attempt by BBVA. CEO Paolo Bertoluzzo indicated that although the original deal is off due to outdated market conditions, Nexi remains interested in pursuing a new agreement under different terms. The initial agreement, made in early 2023, involved Nexi acquiring an 80% stake in Sabadell's Paycomet subsidiary for approximately €280 million.
Source: YAHOO