Hitachi wins UK approval for Thales rail deal

The merger is also being investigated by the European Union. — Reuters

LONDON: Hitachi’s proposed €1.7bil (US$1.78bil) purchase of Thales SA’s rail-signals business wins regulatory approval from the United Kingdom’s competition watchdog after the Japanese firm offers to divest parts of its European unit.

Hitachi’s offer to sell its existing mainline signalling business in the United Kingdom, France and Germany, was sufficient in addressing previous concerns over the deal, the Competition and Markets Authority said yesterday.