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Italian payment rivals Nexi and Sia are in the process of finalising a €15bn ($17.7bn) merger that is set to create one of the largest fintechs in Europe by incorporating Sia into Nexi. The talks have not been smooth to date, with intense negotiations around governance and valuation. Unicredit is Sia’s largest client and its retention was said to be a key part of negotiations. Under the terms of the deal, Nexi’s investors will take 70% ownership of the combined entity whilst Sia’s shareholder will hold the remaining 30% stake. This development is a further indication of increasing consolidation within the payments market in Europe.
The Japanese National Institute of Advanced Industrial Science and Technology (AIST) has begun working with the International Organization for Standardization (ISO), with a view towards establishing international standards for human-assisting robots - particularly those that operate in medical, commercial, and transport environments.
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