February 6, 2020 / 6:04 PM / 22 days ago

Italy's SIA starts preparations to list in Milan

MILAN, Feb 6 (Reuters) - Italian payment services group SIA said on Thursday it had started preparations for a listing on the Milan stock market, expected to take place by summer this year.

SIA said in a statement its board had approved a new business plan aimed at consolidating its position internationally to become the leading player in the digital payments sector.

Last week two sources said that SIA was looking for an adviser for a potential Milan stock exchange listing, adding that a tie-up with bigger rival Nexi also remained on the table.

Earlier this week payments company Worldline agreed to buy French rival Ingenico in a 7.8 billion euro ($8.7 billion) deal, creating a European leader in a sector trying to keep up with fast-changing consumer habits and technologies. (Reporting by ELisa Anzolin, writing by Stephen Jewkes, editing by Giulia Segreti)

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