Italian state-backed lender to increase stake in Nexi

Italy’s state-backed lender Cassa Depositi e Prestiti is preparing to increase its holding in payments giant Nexi, signalling Rome’s determination to retain influence over one of Europe’s most strategically important financial infrastructure providers.

Italian state-backed lender to increase share in Nexi

CDP Equity, the investment arm of the Italian state lender, plans to lift its stake from approximately 19% to as much as 29.9%, just below the regulatory threshold that would trigger a mandatory takeover bid under Italian law.

The move would position CDP Equity ahead of private equity investor Hellman & Friedman as Nexi’s largest shareholder and strengthen government influence over the Milan-listed payments group at a time of heightened consolidation interest across the European fintech sector.

Strategic Infrastructure Increasingly Seen as National Asset

The decision reflects a broader trend among European governments to view payments infrastructure as strategically significant national technology assets.

Nexi processes approximately €1.8 trillion in digital transactions annually across 25 countries, supporting around 140 million payment cards and millions of merchant terminals. Its scale has made the company a critical component of Italy’s financial ecosystem as digital payments continue to displace cash usage across Europe.

CDP stated that the increased investment is intended to support shareholder stability and Nexi’s long-term industrial strategy rather than pave the way for a full takeover.

Nevertheless, the timing is significant. Recent reports suggested that private equity group CVC Capital Partners had been evaluating a potential €9 billion acquisition proposal for Nexi, contingent on securing political support from the Italian government.

Pressure Mounts Across European Payments Sector

Nexi’s share price has fallen sharply over recent years, declining roughly 65% amid intensifying fee pressure, slower growth expectations and increased competition from fintech challengers and alternative payment providers.

The company has also faced investor scrutiny following strategic changes and recent leadership upheaval.

For European payments firms more broadly, Nexi’s situation illustrates the growing tension between public infrastructure priorities and private market valuations. As payments increasingly underpin national economic resilience and digital sovereignty, governments appear increasingly reluctant to allow strategically important networks to drift fully into foreign ownership.

CDP’s intervention may therefore represent not merely a financial investment, but a broader statement about the future ownership of Europe’s payments infrastructure.