"An IPO is a technical hypothesis, one of the practical way-out options recognised to the holder of 49% of Telepass," the newspaper on Thursday quoted CEO Gabriele Benedetto as saying.

Last year Italian infrastructure group Atlantia agreed to sell 49% of Telepass to Swiss-based Partners for 1.06 billion euros ($1.24 billion).

Benedetto said Telepass had "ambitious" growth plans, also based on M&A.

"We aim to expand in Europe, we've got both room and need for non-organic growth," he was quoted as saying, adding that Telepass would look for M&A targets abroad in mobility service and logistic business.

Potential M&A targets will be companies which are already operating, although even at initial stages of their business development, he told Il Sole 24 Ore.

($1 = 0.8516 euros)

(Reporting by Giulio Piovaccari; Editing by Christopher Cushing and Kim Coghill)