$4.4 billion, another big acquisition by MSC

MSC said it would enter exclusive talks tobuy Italian rail operator Italo. Previously, it was reported that the price ofItalo could reach 4 billion euros. MSC Mediterranean shipping line is in talksto buy Italian high-speed train operator Italo from a global infrastructurepartner, according to people familiar with the matter. GIP acquired thebusiness in 2018 for around 2 billion euros. A representative for GIP declinedto comment, while a spokesman for MSC was not immediately available forcomment.

The shipping giant may be close to buyinghigh-speed train operator Italo from Global Infrastructure Partners, accordingto anonymous sources. Sources had previously said Italo could fetch 4 billioneuros ($4.4 billion).

MSC Mediterranean Shipping Company SA is intalks to buy Italian high-speed train operator Italo from Global InfrastructurePartners, people familiar with the matter said.

The container shipping group is inexclusive talks with GIP about a deal, according to the people, who asked notto be identified because the information is confidential.

Bloomberg reported last year that GIP wasconsidering a sale of Italo in a deal that valued the train company at about 4billion euros ($4.4 billion). GIP acquired the business in 2018 for around 2billion euros.

Talks are still ongoing and it is uncertainwhether a deal will be reached, the people said. A representative for GIPdeclined to comment, while a spokesman for MSC was not immediately availablefor comment.

MSC, owned by Italian billionaire GianluigiAponte, has been investing heavily in recent years, having agreed to buy BolloreSA's African transport and logistics business and invest in Italian ferrycompany Moby SpA. The company also expressed interest in Italian flag carrierITA Airways, the successor to Alitalia, but decided not to enter the bid.

In January, Milano Finanza reported, citingunnamed sources, that MSC was close to signing a deal to buy Italo, thoughItalo's owners denied at the time that they were in talks for a sale.

Italo was founded in 2012 as a rival toItalian state railway company Ferrovie Dello Stato Italiane. Its fleet includes51 trains and operates services connecting major Italian cities such as Rome,Milan and Verona.

The Italian train operator has enjoyedwidespread success since its launch in 2012. NTV, the first operator in Europeto open up its operations, reached its financial break-even point for the firsttime in 2016 and has been profitable since then.

In 2018, NTV was sold to the internationalfund management company GIP for 1.98 billion euros; in September 2018, theGerman insurance giant Allianz Group acquired an 11.5% stake in NTV from GIP.

In January, MSC announced plans to end its2M alliance with shipping giant Maersk, with both companies saying they wantedthe opportunity to "pursue their respective strategies".