GovWire

Phase 2

Contact

Hitachi.Thales@cma.gov.uk

Administrative timetable

Referral date: 23 December 2022

Statutory deadline: 8 June 2023

• Administrative timetable (PDF, 121KB) (6.1.23)

Notice of extension of inquiry period

• Notice of extension under Section 39(4) timetable (Hitachi) (PDF, 110KB) (9.1.23)
• Notice of extension under Section 39(4) timetable (Thales) (PDF, 110KB) (9.1.23)

Inquiry group appointed

23 December 2022: The CMA has appointed the inquiry group.

Stuart McIntosh, Susan Hankey, Sir Kenneth Parker and Karthik Subramanya.

Terms of reference

23 December 2022: The CMA has referred the anticipated acquisition by Hitachi Rail, Ltd of Thales SAs Ground Transportation Systems Business, for an in-depth investigation.

• Terms of reference (PDF, 103 KB) (23.12.22)

Statutory timetable

Phase 1

Reference decision

23 December 2022: The CMA has referred the anticipated acquisition by Hitachi Rail, Ltd of Thales SAs Ground Transportation Systems Business, for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

• Decision to refer (PDF, 107 KB) (23.12.22)

Reference unless undertakings accepted

9 December 2022: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns.

• Summary of phase 1 decision (PDF, 138 KB) (9.12.22)
• Press release: Rail signalling deal could push up fares for passengers

Launch of merger inquiry

14 October 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (14.10.22)

Invitation to comment: now closed

14 October 2022: The CMA is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invited comments on the transaction from any interested party.