Hitachi offers to sell assets in France, Germany for EU approval of Thales deal

FILE PHOTO: The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020.

Credit: Reuters Photo

Hitachi has offered to sell assets in France and Germany in a bid to address EU antitrust concerns about its proposed 1.7 billion-euro ($1.8 billion) buy of Thales' GTS railway signalling business, a Hitachi spokesperson said on Monday.

"The proposed remedy includes the divestment of our mainline signalling business in France and Germany," the spokesperson said, confirming a Reuters story published last week. ($1 = 0.9355 euro)

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