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MSC said it would enter exclusive talks to acquire Italian rail operator Italo.

According to anonymous sources, the shipping giant may be close to acquiring high-speed train operator Italo from Global Infrastructure Partners. Sources have previously said Italo could fetch up to 4 billion euros ($4.4 billion).

MSC Mediterranean Shipping Company SA is in talks to buy Italian high-speed train operator Italo from Global Infrastructure Partners, according to people familiar with the matter.

The container shipping group is in exclusive talks with GIP about a deal, according to people familiar with the matter who asked not to be identified because of confidential information.

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

The talks are ongoing and there is no certainty that a deal will result, the people said. A representative for GIP declined to comment, while a spokesman for MSC was not immediately available for comment.

MSC, owned by Italian billionaire Gianluigi Aponte, has been on a spending spree in recent years, having agreed to buy Bollore SA's African transport and logistics business and invest in Italian ferry company Moby SpA. It also expressed interest in Italian flag carrier ITA Airways, Alitalia's successor, but decided not to bid.

In January, Milano Finanza newspaper, citing unnamed people, reported that MSC was close to signing a deal to buy Italo, although Italo's owners denied at the time that they were in talks over a sale.

Italo was founded in 2012 as a competitor to Ferrovie Dello Stato Italiane, Italy's state-owned railway company. Its fleet consists of 51 trains and operates services connecting major Italian cities such as Rome, Milan and Verona.

The Italian train operator has enjoyed widespread success since its launch in 2012. NTV, the first operator in Europe to open its operations, reached its financial break-even point for the first time in 2016 and has been profitable ever since.

In 2018, NTV was sold to international fund manager GIP for 1.98 billion euros; In September 2018, German insurance giant Allianz Group acquired an 11.5% stake in NTVfrom GIP.

In January, MSC announced plans to end its 2M alliance with shipping giant Maersk, with both companies saying they wanted the opportunity to "pursue their respective strategies."

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