Nexi up after report CDP is weighing acquisition of its interbank network

28 nov 202410:53 UTC

** Shares in Italy's Nexi NEXI rise as much as 4.3% after a media report that its major shareholder CDP is considering buying the payments group's interbank network, RNI

** Daily Corriere della Sera reported that state lender CDP, which is Nexi's second-biggest shareholder with a 14.5% stake, is weighing to buy RNI

** Nexi has valued RNI at around 800 million euros ($843.44 million), according to previous media reports

** RNI's sale would be a positive event for Nexi, as the asset's low-single digit growth profile is lower than that of its Merchant acquiring segment, brokerage Equita says

** Nexi could use the resulting financial resources to speed up debt reduction and sustain shareholder remuneration, it adds

** Nexi and CDP declined to comment on the matter

** As of 1040 GMT Nexi shares, which up to Wednesday's close were down 27% YTD, rose 3.2%

($1 = 0.9485 euros)