Chinese bid for Ansaldo STS

Ansaldo STS could be acquired by a Chinese joint venture of Insigma Group and Xinzhu Corporation, and parent company Finmeccanica has confirmed a bid by Insigma for AnsaldoBreda.

Finmeccanica has long planned to sell the Italian operations to reduce debt levels, and some reports suggest the signalling division could also be included in the sale. If so it would give the Chinese companies a foothold in the growing European signalling market – especially the lucrative mass transit and European Rail Traffic Management System (ERTMS) sectors.