Italy’s state-backed lender CDP plans to increase its stake in Nexi to just below the country’s mandatory takeover threshold, following reports of private equity interest in the payments group.
Italy’s state-backed investor Cassa Depositi e Prestiti (CDP) is planning to increase its stake in Nexi to 29.9%, strengthening its influence over one of Europe’s largest payments groups amid reported takeover interest from private equity firm CVC.
According to a statement from CDP Equity, cited by the Financial Times and Reuters, the investment vehicle intends to raise its holding from 19.14% through a combination of market purchases and derivative instruments, while remaining below Italy’s 30% mandatory takeover threshold.
The announcement follows recent reporting that CVC Capital Partners had explored a possible bid for the Milan-listed payments company.
While no formal takeover proposal has been announced, the timing of CDP’s move has been widely interpreted as making any future acquisition attempt more difficult.
The development places Nexi at the centre of a growing debate across Europe around the ownership of payment infrastructure and the increasing political importance of financial technology assets.
Nexi’s strategic role in European payments
Nexi has become one of Europe’s most significant payments groups following a series of consolidation deals, including its mergers with SIA and Nets.
The company now operates across merchant acquiring, digital payments and banking infrastructure services in multiple European markets, positioning itself as a key part of the region’s financial ecosystem.
Unlike many fintech firms focused primarily on consumer applications, Nexi operates closer to the underlying infrastructure powering digital transactions between banks, merchants and consumers. This role has become increasingly important as European policymakers push for greater regional control over payment systems and reduced dependence on non-European providers.
The European Central Bank has repeatedly raised concerns over Europe’s reliance on international card schemes and foreign-owned payment networks, while projects such as the European Payments Initiative (EPI) and Wero have sought to establish stronger European alternatives.
Staying below the takeover threshold
CDP’s decision to stop at 29.9% is significant under Italian market rules. Crossing the 30% threshold would typically require a mandatory offer for the remaining shares in Nexi, substantially increasing the financial and regulatory complexity of the investment.
Remaining below this level allows CDP to strengthen its position without triggering a full takeover process.
In its statement, CDP reportedly described the investment as supporting the long-term strategic development of Nexi and the broader European digital payments sector.
The Italian state-backed investor has already played a central role in Nexi’s evolution in recent years, particularly during the company’s merger with SIA, where CDP was positioned as a long-term strategic shareholder.
Payments infrastructure becomes politically sensitive
The situation reflects a broader trend emerging across Europe, where governments are increasingly treating payment systems as strategic infrastructure rather than purely commercial assets.
Payment infrastructure has also become increasingly attractive to private equity investors due to its recurring revenues, transaction-based business models and long-term banking relationships.
However, the Nexi situation demonstrates how political considerations may increasingly shape the future ownership of major payments companies operating at the centre of national financial systems.
Although neither CDP nor Nexi directly referenced CVC in their public statements, the reported private equity interest has intensified scrutiny around who controls the infrastructure underpinning Europe’s digital payments market.
