Exclusive-Hitachi's EU remedies on Thales deal similar to UK remedies, source says


FILE PHOTO: The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo

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.

Hitachi told the UK Competition and Markets Authority in June that it was ready to divest its UK, French and German mainline signaling business and transfer its core communication-based train control technology to a rival.

It had said that these assets comprise all the elements needed for a viable, standalone business.

($1 = 0.9376 euros)

(Reporting by Foo Yun Chee)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

SpaceX 'forcefully rejects' FAA allegation it violated launch requirements
Brazil's top court orders X not to circumvent ban at risk of daily fine
Amazon adds chatbot for its sellers, boosting automation
Social media users lack control over data used by AI, US FTC says
US-listed crypto stocks jump after bumper rate cut from Fed
Samsung sues Indian labour union over strike as dispute escalates
Intel says it has no plans to divest majority stake in Mobileye
Booking.com's price curbs on hotels may hinder competition, EU top court says
UnitedHealth tech unit's rivals say new, post-hack customers are staying
Google buys carbon removal credits from Brazil startup, joining Microsoft

Others Also Read