MILAN, May 21 (Reuters) - Japan’s Hitachi targets Elliott’s stake in Ansaldo STS in order to fully control the rail-signalling company, Hitachi Rail Chief Executive was quoted as saying in an Italian paper on Monday.
“We are ready to buy Elliott’s shares in Ansaldo STS, but at a fair price, our target remains to reach a 100 percent stake,” Hitachi Rail CEO Alistair Dormer was quoted as saying in Corriere’s L’Economia.
U.S. fund Elliott is the second largest shareholder in Ansaldo with a potential stake of just above 31 percent. Hitachi holds a 50.77 percent stake in the rail signalling group.
Reporting by Stefano Rebaudo, editing by Giulia Segreti