The Antitrust has started an investigation to evaluate the Nexi-Sia merger because the merger could lead the new entity to assume a dominant position in the digital payments sector.
It can be read in a note from the Italian Competition Authority.
The merger operation - we read - involves different operators, both from the point of view of demand and that of supply, and affects numerous areas of the digital payments sector.
The merger operation - underlines the Antitrust - concerns, in the context of the digital payments sector, in particular the services of merchant acquiring, processing, issuing of payment cards, retail clearing of payments, transmission of interbank data and also services for the supply and maintenance of ATMs. The merger of Sia into Nexi - we read - "could therefore determine the establishment or strengthening of a dominant position by the new entity with effects of a horizontal type, as well as of a vertical and conglomerate nature". "As for the presence of overlaps of a vertical nature, and of conglomerate effects, the offer of ATM services - the document reads - could present integration profiles in particular with theoffer of processing services, resulting in the two services being connected and often combined both in terms of supply and in terms of demand by the merchants. Given the nature of the markets in question, characterized by significant elements of vertical and conglomerate integration, it is believed that the transaction could lead to restrictive effects of competition in the national market in the supply of ATMs (including software and related services), which will however need to be investigated. in light of the correct definition of the relevant market, in particular in its geographical dimension, also taking into account Community practice and the arguments provided by the parties ". The procedure must be concluded within forty-five days from the resolution of the provision.as the two services are connected and often combined both in terms of supply and in terms of demand by the merchants. Given the nature of the markets in question, characterized by significant elements of vertical and conglomerate integration, it is believed that the transaction could lead to restrictive effects of competition in the national market in the supply of ATMs (including software and related services), which will however need to be investigated. in light of the correct definition of the relevant market, in particular in its geographical dimension, also taking into account Community practice and the arguments provided by the parties ". The procedure must be concluded within forty-five days from the resolution of the provision.as the two services are connected and often combined both in terms of supply and in terms of demand by the merchants. Given the nature of the markets in question, characterized by significant elements of vertical and conglomerate integration, it is believed that the transaction could lead to restrictive effects of competition in the national market in the supply of ATMs (including software and related services), which will however need to be investigated. in light of the correct definition of the relevant market, in particular in its geographical dimension, also taking into account Community practice and the arguments provided by the parties ". The procedure must be concluded within forty-five days from the resolution of the provision.