Nexi Shares Fail to Open Amid Bid Report and CVC’s Silence


Summary: Shares of Italian payments group Nexi did not open for trading as a potential bid by CVC Capital Partners sparked excessive gains. CVC declined to comment on the matter.

Shares of Italy’s Nexi (NEXII.MI) did not start trading on Wednesday due to a surge in gains fueled by a media report of a possible bid by CVC Capital Partners. The private equity firm declined to comment on the matter. Bloomberg reported on Tuesday that CVC was considering a potential bid for Nexi, Europe’s largest payments company by transaction volume. The company’s shares have shown a decline of 22% this year and 47% in 2022, leading to speculation of a potential takeover. By 0730, Nexi’s shares were indicated to be up by 16.7% at 6.72 euros a share. Shareholders in Nexi include private equity firms Hellmann & Friedman, Advent, and Bain, as well as the Italian government through state lender CDP and the post office Poste Italiane. The government has the power to block any unwanted interest in Nexi due to its strategic national importance.

Tags: Nexi, CVC Capital Partners, Italian payments group, stock market, takeover bid