By Anthony O. Goriainoff

The U.K.'s competition watchdog said that Hitachi Rail's proposed acquisition of Thales's transportation-systems business was allowed to proceed.

The Competition and Markets Authority said Wednesday that Hitachi Rail's offer to sell part of its mainline signaling business in the U.K, France and Germany addressed the regulator's competition concerns regarding the merger between the two leading signaling suppliers.

Thales and Hitachi Rail entered into negotiations for the sale of the ground-transportation-systems business in August 2021 for an enterprise value of 1.66 billion euros ($1.74 billion). Thales said it aims to close the acquisition within the second half of 2023.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

October 04, 2023 03:05 ET (07:05 GMT)

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