Italy picks KPMG to value digital payment platform PagoPA, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 01 2024
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Source: Yahoo Finance
- Italy's Treasury and PagoPA Sale: Italy's Treasury is valuing PagoPA, a digital payment company, for sale to the state mint and postal service Poste Italiane.
- Concerns in Banking Sector: Small banks in Italy are worried about non-bank digital payment providers like Apple and Google, fearing Poste's potential use of PagoPA to strengthen its position.
- KPMG Appointment: KPMG has been chosen to assess PagoPA's value, marking a significant step in the sale process where Poste will become a minority shareholder.
- Poste's Diversification: Poste Italiane, a financial conglomerate, has expanded into various sectors including payments, mobile services, energy supply, insurance, and investments.
- PagoPA's Role: PagoPA facilitated 46.66 billion euros in payments to Italy's public administration and will be central to the government's IT Wallet project for digital identity and online services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
