Hitachi’s attack on Thales’ railway signaling business is backed by the regulator
Concession: Hitachi has agreed to sell its main signaling business in the UK
Japan’s Hitachi’s £1.5bn takeover of French engineering group Thales’ railway signaling business is getting closer.
The UK Competition and Markets Authority had said this could harm competition as both provide signaling systems.
But after Hitachi agreed to sell its main signaling business in the UK, France and Germany, the regulator said it was “an effective and proportionate remedy”.
Stuart McIntosh, chair of the inquiry group, said: “Hitachi is selling part of its main signaling business.”
This protects competition, which is key to reducing costs, maintaining high service quality and encouraging innovation.”