Italy’s CDP opposes Nexi’s sale of a majority stake in its digital banking unit to TPG, valued at €1bn. The division includes interbank networks and generated €155m in core earnings last year. Nexi faces competition from fintech firms, with shares trading at €4, down from a peak of over €20bn.

CDP, FAO, and the EU will launch the TERRA program to support agrifood MSMEs in Africa and Türkiye with a €109.5m EU guarantee. CDP previously backed Italy’s €1bn fund for AI initiatives. The news was originally reported by Retail Banker International.

Read more at Yahoo Finance: CDP opposes Nexi’s sale of majority stake in digital banking unit to TPG