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Italy's Poste eyes acquisition in payments sector - source

01/20/2022 | 09:31am EDT
The logo of Poste Italiane is seen in Rome

MILAN (Reuters) - Italian postal service Poste Italiane is considering expanding its payments operations through the acquisition of card processing and electronic payments group LIS Holding, a person familiar with the matter said on Thursday.

LIS Holding, which controls LIS Pay, is a unit of IGT Lottery, an Italian sub-holding owned by New York-listed International Game Technology, the gaming group controlled by Italy's De Agostini holding company.

A transaction involving LIS Pay would be the latest evidence of robust merger and acquisition activity in the payments sector, which is rapidly consolidating on the back of rising competition and the large investments in technology needed.

LIS Pay has commercial accords in place with Poste and provides top-up services for prepaid debit cards issued by PostePay, the post office's payments unit.

News of Poste Italiane's interest was first reported by Italian daily MF, which said the post office was working with UBS and that the target could be worth 600 million euros.

One banker confirmed LIS Holding could be valued at between 500 million and 700 million euros.

At the end of December, Italy's biggest utility Enel and the country's biggest bank Intesa Sanpaolo teamed up to take control of Mooney in a deal valuing the Italian payments firm at 1.39 billion euros.

(Reporting by Elisa Anzolin; writing by Valentina Za; editing by David Evans)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ENEL S.P.A. 3.15% 6.123 Delayed Quote.-13.10%
INTERNATIONAL GAME TECHNOLOGY PLC 1.13% 20.6 Delayed Quote.-28.74%
INTESA SANPAOLO S.P.A. -0.25% 1.983 Delayed Quote.-12.80%
POSTE ITALIANE S.P.A. -0.29% 9.504 Delayed Quote.-17.64%
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Analyst Recommendations on INTESA SANPAOLO S.P.A.
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Sales 2022 20 730 M 21 869 M 21 869 M
Net income 2022 4 103 M 4 329 M 4 329 M
Net Debt 2022 - - -
P/E ratio 2022 9,24x
Yield 2022 7,85%
Capitalization 38 470 M 40 584 M 40 584 M
Capi. / Sales 2022 1,86x
Capi. / Sales 2023 1,81x
Nbr of Employees 97 698
Free-Float 99,8%
Duration : Period :
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Mean consensus BUY
Number of Analysts 23
Last Close Price 1,98 €
Average target price 2,63 €
Spread / Average Target 32,7%
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Managers and Directors
Carlo Messina Chief Executive Officer, MD & Director
Stefano del Punta Treasurer
Gian Maria Gros-Pietro Chairman
Massimo Proverbio Chief IT, Digital & Innovation Officer
Paola Angeletti Chief Operating Officer
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