Hitachi-Thales Deal Won't Hurt Competition in Urban Signalling Systems, UK Regulator Says
By Maitane Sardon
The U.K.'s competition watchdog said Wednesday that Hitachi Rail's proposed acquisition of Thales's transportation-systems business won't reduce competition in the supply of communications-based train control signalling systems in the U.K.
The Competition and Markets Authority said that it has found new evidence that supports the conclusion that Hitachi won't be a credible bidder to supply communications-based train control, or CBTC, signalling systems to the London Underground in the near to medium term as it had found initially.
It said that the update doesn't change its provisional assessment that the merger is likely to lead to a "substantial lessening of competition" regarding the supply of digital mainline signalling.
Thales and Hitachi Rail entered into negotiations for the sale of the ground transportation systems business in August 2021 for an enterprise value of 1.66 billion euros ($1.80 billion). Thales said it aims to close the acquisition within the second half of 2023.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
August 23, 2023 03:48 ET (07:48 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations