Japanese Group Hitachi is interested in possible partnerships with Finmeccanica rail sector units AnsaldoBreda and Ansaldo STS, but any deal would take time, an Italian union leader told Reuters on Tuesday. "Hitachi is interested. Any marriage would need time. I don't think it's around the corner," UILM national secretary Giovanni Contento told Reuters in a phone interview.
"There is no agreement yet. There are no talks under way. I certainly think that Hitachi has approached the parent company," Contento added. Late on Monday evening AnsaldoBreda and trade unions reached an agreement over the restructuring of the loss-making train and tram manufacturer, which includes reaching break even in 2014, he said.
Contento said a US or a Japanese partner could make a better fit for AnsaldoBreda than larger European rivals Alstom or Siemens. Shares in Finmeccanica soared 9 percent on Tuesday after Italian daily Il Sole 24 Ore said in an unsourced report Hitachi could be close to buy a 50 percent stake in AnsaldoBreda and 29 percent Ansaldo STS, which makes rail signalling systems.
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