BRUSSELS (Reuters) – Hitachi’s remedies to EU antitrust regulators assessing its proposed 1.7-billion-euro ($1.8 billion) buy of French infrastructure company Thales’ rail signal business are similar to those offered to the UK competition agency, a person with direct knowledge of the matter told Reuters on Friday.
According to the source, in June, Hitachi informed the UK Competition and Markets Authority that it was prepared to divest its UK, French, and German mainline signaling business. Additionally, Hitachi proposed transferring its core communication-based train control technology to a competitor.
Hitachi argued that the assets it is willing to divest constitute all the necessary components for a viable and independent business.
The acquisition cost is equivalent to $1.8 billion.
Reporting by Foo Yun Chee
Credit: The Star : Tech Feed
