Italy's state railway teams up with Certares fund on high-speed trains abroad

ROME, Dec 29 (Reuters) - Italy's state-owned railway Ferrovie dello Stato (FS) has signed a partnership with U.S. investment firm Certares to develop high-speed train services in France and other European countries, the two groups said on Monday. FS and Certares will set up a joint venture and invest 1 billion euros ($1.18 billion) to expand the operations of FS's Paris-based Trenitalia France unit in France, Britain and other foreign markets, they said. The partnership is part of a broader strategy by FS to strengthen its international network in coming years. The accord will help Trenitalia France - which runs high-speed services between Paris and Lyon and Marseilles as well as the Paris–Milan link - consolidate its position as France's second-largest operator. It will also support the unit as it prepares to operate on the Paris–London route by 2029 and on other cross-border services, the statement said. The deal will help Trenitalia France's plans to widen its fleet to at least 19 trains, build a new maintenance hub near Paris and increase frequencies on existing routes. ($1 = 0.8493 euros)