May 21, 2018 / 6:50 AM / a year ago

Hitachi ready to buy Elliott's stake in Ansaldo STS - paper

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

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