Italian operator to buy c2c

National Express Group PLC has reached an in principle agreement for Trenitalia, the passenger rail transportation company part of FS Italiane Group, to acquire the c2c franchise.

Completion of the acquisition is conditional upon final consent from the Department for Transport and is expected to occur within the next three to four weeks. The total consideration is expected to be in the region of £70 million, resulting in a small net profit for National Express.

• For more on this, read RAIL 818, published on January 18.