Nexi shares fail to open on bid report as CVC declines to comment

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Grandpere’s love builds a Viking ship in West Pubnico | SaltWireMILAN - Shares in Italy's Nexi failed to start trading at open on Wednesday due to excessive gains fuelled by a media report of a possible bid by CVC Capital Partners which the private equity firm declined to comment on.

Nexi shares have lost 22% this year, adding to a 47% drop in 2022 and stoking speculation about potential takeover interest. By 0730 shares in Nexi were indicated up 16.7% at 6.72 euros a share, not far from a record low of 5.25 euros a share hit earlier this month. The presence of shareholder funds which will eventually need to liquidate their investment and the depressed share price have fuelled persistent speculation about Nexi's future.

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