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Thales to sell signalling business to Hitachi in $2 billion deal

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Reuters

By Gwénaëlle Barzic PARIS (Reuters) – Thales, Europe’s largest defence electronics company, said it was in advanced talks to sell its GTS railway signalling business to Japan’s Hitachi in a deal that values the division at 1.66 billion euros ($2 billion). The sale – which confirmed a Reuters exclusive – comes as the French company looks to streamline its sprawling operations and reassure investors of its core focus on making high-tech equipment for the defence and aerospace industries. Thales shares were up 1.1% in early trading. “With this major strategic move, we will be able to focus on the…

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