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ios developer account:Italy OKs Dorseyu0027s Square Inc, Chinau0027s Tencent to invest in startup Satispay - source


ROME, Feb 23 - Italy has given Square Inc,the mobile payments firm of Twitter co-founder Jack Dorsey, andChina's Tencent a conditional green light to invest inItalian start-up Satispay, a source close to the matter toldReuters. Satispay said in November that new investors would providefresh funds by subscribing a 68 million-euro ($82.57million)capital increase and acquiring a minority stake for 25million euros. Square and Tencent, which plan to invest 15 million euroseach in Satispay, needed Rome's backing as the government hasthe right to block unwanted bids in strategic industries such asbanking, telecoms and health. The cabinet approved the deal on Feb. 22, the source saidwithout giving details on the conditions that were imposed. REUTERS

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