Insigma Technology : Bombardier pulls out of race for Finmeccanica units: sources
September 03, 2014 at 08:49 am
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MILAN (Reuters) - Canadian plane and train maker Bombardier (>> Bombardier, Inc.) has pulled out of the race for Finmeccanica's (>> Finmeccanica SpA) rail units AnsaldoBreda and Ansaldo STS (>> Ansaldo STS SpA), three sources familiar with the situation said on Wednesday.
MILAN (Reuters) - Canadian plane and train maker Bombardier (>> Bombardier, Inc.) has pulled out of the race for Finmeccanica's (>> Finmeccanica SpA) rail units AnsaldoBreda and Ansaldo STS (>> Ansaldo STS SpA), three sources familiar with the situation said on Wednesday.
The sources confirmed a report in Italian newspaper Il Messaggero on Wednesday which said that Bombardier had not presented an offer by an end-August deadline set by the heavily indebted Italian defence group.
In August Finmeccanica CEO Mauro Moretti said the group, which has been trying to sell the units for three years to cut down debt, expected to complete the sale by mid-October.
(Reporting by Danilo Masoni and Sophie Sassard, editing by Silvia Aloisi)
Insigma Technology Co., LTD is a China-based company principally engaged in the provision of information technology (IT) services. The Company mainly provides its IT services in four fields, including intelligence cloud service, intelligence city, intelligence business and intelligence life. The Company conducts its businesses in domestic and overseas markets.