Thales: delay in merger with Gemalto
(CercleFinance.com) - This morning Thales said that its merger with Gemalto will take a little longer to complete than expected, due to requirements imposed by a number of competition authorities.
"The contemplated combination is progressing satisfactorily: 6 of the required 14 regulatory clearances have already been obtained, and the steps to obtain the remaining eight are well advanced," the defense electronics group said.
However, (unidentified) competition regulators are demanding more “remedy proposals to address their concerns with respect to the General Purpose Hardware Security Modules (GP HSM) market.”
As a result, the deal's completion - which was previously expected "before the end of 2018" - is now expected in Q1 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"The contemplated combination is progressing satisfactorily: 6 of the required 14 regulatory clearances have already been obtained, and the steps to obtain the remaining eight are well advanced," the defense electronics group said.
However, (unidentified) competition regulators are demanding more “remedy proposals to address their concerns with respect to the General Purpose Hardware Security Modules (GP HSM) market.”
As a result, the deal's completion - which was previously expected "before the end of 2018" - is now expected in Q1 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.