MILAN Dec 12 Italy's railways group has agreed
to buy a 36.7 percent stake in M5, the operator of Milan's metro
line 5, from general contractor Astaldi.
State controlled Ferrovie dello Stato (IPO-FERRO.MI) said on
Monday it would pay 64.5 million euros ($68.3 million) for the
shareholding in M5, adding Astaldi would retain a 2 percent
The investment, the first foray of Ferrovie into subway
infrastructure, is coherent with the group's strategy to link up
different networks to improve public transport and mobility in
large urban area and elsewhere, the group said.
($1 = 0.9439 euros)
(Reporting by Francesca Landini)