Companies

EXCLUSIVE-Thales poised to sell signalling unit to Hitachi for about $2 bln - source

Credit: REUTERS/Charles Platiau

French firm Thales is in advanced negotiations to sell its railway signalling business to Japan's Hitachi for nearly $2 billion, a source familiar with the discussions told Reuters.

By Gwénaëlle Barzic

PARIS, Aug 3 (Reuters) - French firm Thales TCFP.PA is in advanced negotiations to sell its railway signalling business to Japan's Hitachi 6501.T for nearly 1.7 billion euros ($2 billion), a source familiar with the discussions told Reuters.

A spokesman for Thales, contacted by Reuters, declined to comment. A representative of Hitachi's European operations did not immediately respond to requests for comment.

The source, who spoke on condition of anonymity, said the deal was scheduled to be announced within the next few days.

Thales put its signalling business up for sale earlier this year.

($1 = 0.8427 euros)

(Additional reporting by Matthias Blamont Writing by Christian Lowe Editing by David Holmes)

((christian.lowe@thomsonreuters.com; +33 1 49 49 52 07;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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