BRUSSELS, September 15 (Reuters) – The remedies proposed by Hitachi Rail to European competition authorities regarding the takeover of Thales’ rail signaling business are similar to those proposed by the Japanese group to the British competition authority ( CMA), a source familiar with the matter told Reuters on Friday.
Hitachi Rail told the CMA in June it was prepared to divest its rail signaling businesses in the UK, France and Germany and transfer its communications-based train management system to a rival.
The group had stated that these assets included all the elements necessary for a viable and self-sustaining business.
Hitachi Rail’s proposed takeover of Ground Transportation Systems (GTS) for an enterprise value of 1.66 billion euros was revealed in August 2021.
Hitachi Rail is in discussions with the European Commission to obtain approval of this transaction for the European Union.
(Report by Foo Yun Chee; French version by Camille Raynaud, edited by Blandine Hénault)
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