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Italy's competition watchdog starts probe into Nexi-SIA merger plan

·1-min read

MILAN (Reuters) -Italy's competition watchdog said on Friday it had opened an investigation into Nexi's planned merger with domestic rival SIA, citing antitrust concerns in the country's digital payments industry.

Italy's Nexi, which merged with Nordic rival Nets in June, expects to finalise the merger in the fourth quarter to create one of Europe's largest payments group.

The merger of SIA into Nexi could lead to "the creation or strengthening of a dominant position," said the authority in a note.

The probe should be completed within 45 days, the regulator added.

Nexi said in July it expected to get regulatory approval in September or October.

(Reporting by Cristina Carlevaro and Elisa Anzolin; Editing by Hugh Lawson)

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