A PYMNTS Company

Hitachi-Thales Deal Referred To UK Antitrust Regulator

By  |  December 29, 2022

The UK competition regulator said Friday that it will refer Hitachi’s planned acquisition of Thales SA’s rail-infrastructure business for a more in-depth, phase 2 investigation, after the parties declined to provide undertakings.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Competition and Markets Authority said the parties had until Dec. 16 to offer an undertaking to remove competition concerns, but that both had declined.

    Read more: A Review of the Development of SEP-Related Disputes in China and Outlook for the Future Trend

    On Dec. 9, the regulator warned that the deal could lessen competition and drive up fares in the U.K.

    The Japanese conglomerate last summer opened discussions to buy French company Thales’s rail-signaling business for an enterprise value of 1.66 billion euros ($1.76 billion.)

    The acquisition could remove a credible competitor from the tendering process for mainline signaling held by U.K. railway-infrastructure operator Network Rail, the country’s main customer for signaling, the Competition & Markets Authority said previously.