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Nets CEO sees "considerable interest" from potential buyers

[COPENHAGEN] Nets A/S, Scandinavia's largest payments processor, is seeing "considerable interest" from potential buyers amid a wave of M&A activity in the payment services industry, the company's chief executive said on Thursday.

Nets, a major player in payment services in the Nordic region, said in early July that it had been approached by potential buyers.

"The talks have been going on relatively long, so it seems there is considerable interest," CEO Bo Nilsson told Reuters in an interview.

"We have seen an extreme level of (M&A) activity lately (...) It's clear to me that we're entering a period of consolidation in Europe in line with what we've seen in the United States," he said.

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"As one of the biggest and most developed operators on the payment services market, I'm not surprised that some see Nets as a brick in that puzzle," Mr Nilsson said.

US payment giants Visa and Mastercard are both seen as suitors for Nets.

Nets on Thursday posted net profit of 333 million Danish crowns (S$71.8 million) in the second quarter, ahead of analyst expectations.

REUTERS

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