Thales to sell signalling business to Hitachi in $2 billion deal - Netscape Money & Business

Thales to sell signalling business to Hitachi in $2 billion deal
By Gwénaëlle Barzic
Reuters
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 2.5% in early trading, among the top performers on the French stock market.

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