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Italy's State Lender to Boost Nexi Holding to Nearly 30%

Cassa Depositi e Prestiti SpA, Italy's state-owned lender, has approved plans to increase its stake in digital payments company Nexi SpA to as much as 29.9%. The board of CDP Equity, the investment arm of the state lender, greenlit the necessary procedures Monday to move forward with the holding increase. The expansion will be achieved through subscription of derivative contracts representing 8% of Nexi's share capital. The move supports Nexi's long-term strategic objectives in the Italian payments sector.