Latest news with #PosteItaliane
The Star
5 days ago
- Business
- The Star
Italy asks Poste, state mint to revive talks over PagoPA deal
FILE PHOTO: A signboard of Poste Italiane is seen hanging outside a post office in central Rome October 9, 2015. REUTERS/Alessandro Bianchi/File Photo MILAN (Reuters) -Italy wants state-backed Poste Italiane and the state mint to revive talks to buy PagoPA, the Treasury-owned platform that handles digital payments to the public administration, two sources familiar with the matter said. Under a plan drafted last year, Poste - which has expanded beyond its core mail and parcels business into financial, broadband and energy supply services - would take a minority stake in PagoPA to bolster its payments business. But negotiations hit a snag over the valuation of PagoPA, with Poste and the mint questioning a price tag of 500 million euros ($581 million) determined by a Treasury adviser, Reuters reported in April. According to one of the sources, who declined to be named due to the sensitivity of the matter, the parties are now seeking to finalise a deal in September, although no formal deadline has been set. PagoPA, which this year has handled payments to Italy's public administration worth 57 billion euros, is set to play a leading role in the Italian government's efforts to set up a digital wallet through the IO mobile app. The app enables Italians to store official documents, including proof of their digital identity to access public services online, and to make payments. The prospect of Poste taking a stake in PagoPA has alarmed Italy's crowded banking sector, which is grappling with strong competition in digital payments from the likes of Apple, Google owner Alphabet and PayPal. For its part, Poste is concerned that part of its business might be dented by PagoPA's plan to develop the so-called SEND project, a digital platform for public administrations to send and receive legal notices, a source close to the matter said. ($1 = 0.8607 euros) (Reporting by Elvira Pollina in Milan and Giuseppe Fonte in Rome. Editing by Mark Potter)
CNA
5 days ago
- Business
- CNA
Italy asks Poste, state mint to revive talks over PagoPA deal
MILAN :Italy wants state-backed Poste Italiane and the state mint to revive talks to buy PagoPA, the Treasury-owned platform that handles digital payments to the public administration, two sources familiar with the matter said. Under a plan drafted last year, Poste - which has expanded beyond its core mail and parcels business into financial, broadband and energy supply services - would take a minority stake in PagoPA to bolster its payments business. But negotiations hit a snag over the valuation of PagoPA, with Poste and the mint questioning a price tag of 500 million euros ($581 million) determined by a Treasury adviser, Reuters reported in April. According to one of the sources, who declined to be named due to the sensitivity of the matter, the parties are now seeking to finalise a deal in September, although no formal deadline has been set. PagoPA, which this year has handled payments to Italy's public administration worth 57 billion euros, is set to play a leading role in the Italian government's efforts to set up a digital wallet through the IO mobile app. The app enables Italians to store official documents, including proof of their digital identity to access public services online, and to make payments. The prospect of Poste taking a stake in PagoPA has alarmed Italy's crowded banking sector, which is grappling with strong competition in digital payments from the likes of Apple, Google owner Alphabet and PayPal. For its part, Poste is concerned that part of its business might be dented by PagoPA's plan to develop the so-called SEND project, a digital platform for public administrations to send and receive legal notices, a source close to the matter said. ($1 = 0.8607 euros)
Bloomberg
20-05-2025
- Business
- Bloomberg
Poste Italiane Could Be Partner for Digital Euro, Cipollone Says
Poste Italiane SpA could help introduce the digital euro to Italy, according to European Central Bank Executive Board member Piero Cipollone. The ECB is looking for partners to carry the project over 'the last mile' of implementation once it has been set up, Cipollone said, speaking at an online ASviS event.
Reuters
07-05-2025
- Business
- Reuters
Telecom Italia first-quarter core profit up 5.4%, debt rises
Summary Companies Profit after lease costs 815 mln euros vs forecast 821 mln Debt edges up to 7.5 bln euros from 7.3 bln at end-December Company confirms financial targets MILAN, May 7 (Reuters) - Telecom Italia ( opens new tab posted on Wednesday a 5.4% rise in first-quarter core earnings, slightly below expectations, as debt edged higher and cash flow was negative. Earnings before interest, taxes, depreciation and amortisation after lease costs at Italy's biggest telecoms group rose to 815 million euros ($926 million), against analysts' consensus forecast of 821 million euros in a company poll. Debt after lease costs was 7.5 billion euros at the end of March, up from 7.3 billion euros at Dec. 31, while equity free cash flow was a negative 198 million euros, weighed down by some deferred payments from the previous quarter and in line with analyst expectations. The company posted a 124-million-euro net loss in the period, down from a 400-million-euro loss in the same period last year, and confirmed financial targets provided in February, including the return to cash generation this year. TIM, the heir to Italy's phone monopoly, is set to return to state-backed hands with financial conglomerate Poste Italiane ( opens new tab replacing France's Vivendi ( opens new tab as its single largest investor with a 24.8% stake. Having sold its prized landline network last year, in a move aimed at slashing debt, TIM is expected to play a role in the long-awaited consolidation of Italy's telecoms sector, which has been under pressure for years amid stiff price competition. ($1 = 0.8799 euros)
Yahoo
23-04-2025
- Business
- Yahoo
Italy's state-owned payments firm PagoPA sale hits valuation dispute
Italy's state-owned payments firm PagoPA has encountered disagreements over its valuation in the planned sale to the state mint and postal operator Poste Italiane, reported Reuters. The transfer of PagoPA would keep it under state-controlled entities, with Poste Italiane acquiring a minority stake in the company. State-backed Poste Italiane has diversified its operations, branching out from its traditional mail and parcel services into payments, broadband, and energy sectors. Poste Italiane and the state mint have raised concerns about a €500m valuation of Treasury-owned PagoPA, set by Treasury adviser KPMG, the report said citing sources. The state mint and Poste Italiane have reviewed PagoPA's financial data to assess whether its business plan justifies the proposed valuation, the report added. The parties involved either declined to comment or were not immediately available for comment to Reuters. PagoPA processed €33bn in public administration payments so far this year. It is expected to play a central role in the Italian government's plan to develop a digital wallet through the IO app. The app allows users to store official documents, including digital identity credentials, and make payments for public services. Last year, Italy's Treasury appointed KPMG to conduct a valuation of PagoPA. The company's electronic payment system allows citizens and businesses to pay public bodies through a standardised process, using both online and offline channels via participating payment service providers. "Italy's state-owned payments firm PagoPA sale hits valuation dispute " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
