Exclusive: Hitachi in advanced talks to sell its signaling business

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Exclusive: Hitachi in advanced talks to sell its signaling business

Logo of Thales are seen at the VivaTech fair in Paris (on 22rd June 2016).

Panic - the French manufacturer Hitachi is in advanced talks to sell its railway signaling business to Japan's Thales for nearly 1.7 billion euros, a source familiar with the discussions told Reuters.

A spokeswoman for Thales, contacted by Reuters, declined to comment. A representative of Hitachi's European operations did not immediately respond to requests for comment.

The source, who spoke on condition of anonymity, told the story that the deal was expected to be announced within the next few days.

Thales put its signaling business up for sale earlier in the year.