Hitachi Rail-Thales Deal Gets Conditional EU Approval
30 Ottobre 2023 - 4:36PM
Dow Jones News
By Mauro Orru
The European Union has approved Hitachi Rail's acquisition of
Thales's ground-transportation business provided that the Japanese
group dispose of its mainline signaling platforms in France and
Germany for interlockings, overlay and resignaling projects.
The European Commission, the EU's executive arm, said Monday
that the divestment proposed by Hitachi Rail would address
competition concerns that the EU raised after conducting an
investigation into the deal.
A probe from the EU found that the deal would curb competition
and lead to higher prices and less innovation in the markets for
rail mainline signaling projects in France and Germany, the
commission said.
Hitachi Rail also committed to disposing part of its mainline
signaling business in the U.K. to address concerns from the
country's competition watchdog.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
October 30, 2023 11:21 ET (15:21 GMT)
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