Italy picks KPMG to value digital payment platform PagoPA, sources say [Yahoo! Finance]
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PayPal Holdings, Inc. (PYPL)
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Source: Yahoo! Finance
handling digital payments to the public administration, as it prepares to sell the business to the state mint and postal service Poste Italiane, people close to the matter said. The prospect of PagoPA changing hands, though it would remain under state-controlled entities, has spread alarm in Italy's crowded banking sector, where many small lenders are struggling to keep up with rapid changes in the payments sector. Banks look with concern at the increasing presence of non-bank digital payment providers such as Apple, Google-owner Alphabet or PayPal, and fear that Poste could use PagoPA to strengthen its position in the digital payments market. The appointment of KPMG is however a key step in a project that will see Poste becoming a minority shareholder in PagoPA, the sources said, asking not to be named due to the sensitivity of the matter. All involved parties declined to comment or were not available for comment. Poste is a financial conglomerate that has expanded beyond i
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PYPL
Earnings
- 4/30/24 - Beat
PYPL
Sec Filings
- 7/3/24 - Form 4
- 7/3/24 - Form 3
- 6/28/24 - Form 8-K
- PYPL's page on the SEC website