Hitachi’s foray into Thales’ rail signaling business backed by regulator
Concession: Hitachi agreed to sell its main UK signage business
The £1.5bn acquisition of French engineering group Thales’ railway signaling business by Japan’s Hitachi is inching closer.
The UK Competition and Markets Authority had said it could harm competition as both supply 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, president of its research group, said: ‘Hitachi is selling part of its core signaling business.
This will protect competition, which is key to keeping costs down, maintaining high quality of service and promoting innovation.’