CORRECTED-Poste Italiane buys 14.85 pct of SIA for 278 mln euros

September 16, 2016 6:53 AM

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MILAN, Sept 16 Poste Italiane said on Friday it bought a 14.85 percent stake in Italian bank payment provider SIA from Italian state lender Cassa Depositi e Prestiti (CDP) for 278 million euros ($312 million).

The recently privatised post office already reaps part of its 31 billion euro annual revenues from payment services offered to families and companies and is seeking to expand this business.

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