UK regulators express concern over Hitachi-Thhales rail signal deal

LONDON, June 8 (Reuters) – Britain’s competition regulator is set to cut costs for upgrading Britain’s rail network as Hitachi (6501.T) acquires Thales’ (TCFP.PA) signaling business for €1.7 billion ($1.8 billion). He said it could increase. company to solve the problem.

The Competition and Markets Authority (CMA) said Japan’s Hitachi Rail and France’s Thales SA’s Ground Transportation divisions, along with Siemens and Alstom, are leading signaling suppliers for arterial and urban rail networks.

“We tentatively found that if a merger proceeds, the number of signal providers in an already highly concentrated industry will decrease and consequently the loss of competition could worsen transportation networks and passengers,” the CMA said. thursday.

“We will now discuss our findings and how Hitachi and Thales can address our concerns in a way that protects passengers and meets the government’s goals for more reliable, efficient and modern railways. “

Hitachi Rail said it was “disappointed” with the CMA’s interim findings and would closely consider how it could respond to concerns.

“Hitachi maintains a firm view that the merger will not materially reduce competition to the UK Signals project,” it said in a statement.

“Our focus right now is on finding the best potential mitigation and the appropriate way forward.”

The CMA said it had until June 29 to submit to consultations.

($1 = 0.9341 euros)

Reporting: Paul Sandle, Editing: Elaine Hardcastle

Our Standard: The Thomson Reuters Trust Principle.

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