Italian rail operator to buy Greek peer for $50 million

ATHENS, Greece – Italy’s state rail operator is set to buy its counterpart in Greece, in a 45 million-euro ($50 million) deal that is part of Athens’ bailout commitments.

A government privatization fund announced Thursday that it had accepted the offer from Ferrovie Dello Stato Italiane SpA for the whole of Greece’s TRAINOSE SA.

The planned sale recently prompted days of strikes by rail workers that disrupted passenger and freight services.

Greece has promised revive its privatization drive, particularly of public utilities and infrastructure, as part of its third international bailout.