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EU okays sale of Italo-NTV to US-owned GIM

05 aprile 2018 | 14.02
LETTURA: 1 minuti

 - FOTOGRAMMA
- FOTOGRAMMA

The European Commission on Thursday gave US infrastructure investment fund Global Infrastructure Management the go-ahead to buy Italy's private rail company Italo-NTV.

The EU executive said the multi-billion dollar deal agreed in February did not breach the bloc's competition rules as the two companies operate in different markets.

Italo-NTV's board of directors in early February accepted a bid by Global Infrastructure Partners, which overall offered 1.98 billion euros (2.43 billion U.S. dollars) to buy the entire share capital of the Italian company.

Headquartered in Rome, Italo-NTV has operated as a private rail operator since 2012. It runs a high-speed fleet of trains on a route network of 14 cities and 19 stations across Italy, according to the firm's profile.

GIP plans to expand Italo-NTV's high-speed network to the rest of Europe, competing with state-owned rail companies such as SNCF in France.

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