Nexi holds on to rumours of Cdp's interest in share increase

(Il Sole 24 Ore Radiocor) - It is holding up Nexi on a day of selling on the FTSE MIB and across Europe. The share price is holding up, supported by rumours of Cdp's interest in taking a further stake in the company. On 13 January, according to Consob's findings on significant shareholdings, Mercury UK Holdco sold its 3% stake in Nexi (remaining with a residual 0.01% stake), thus also exiting the shareholders' agreement with Cdp and other funds (H&F, AB Europe and Eagle).

Il Messaggero writes that Cdp is also considering strengthening its stake in Nexi (currently at 19%), with increasing weight on the company's strategic and development choices. "The possible increase of Cdp's stake in Nexi would partly reduce the risk of further 'overhang' on the stock," say Equita analysts, who recall that currently AB Europe, Eagle and H&F hold 2.2%, 6.8% and 22.2% of the capital respectively).

Equita - which has a buy rating on the stock with a target price of EUR 7 - also points out that March is expected to be Capital Market Day, where it expects 'greater clarity on strategy, both in terms of organic growth and shareholder remuneration, as well as extraordinary transactions and divestments'.