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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Should l Buy ?
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.
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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.
