The ceo of Finmeccanica Mr Mauro Moretti has invited bidders to submit binding offers for the acquisition of AnsaldoBreda and its 40% stake in Ansaldo STS, according to reports in the Italian financial press. Hitachi submitted a non-binding offer on November 17 and a Chinese partnership of Insignia Group and XinZhu is also in contention, having entered the race after CNR Corporation pulled out. The Chinese are reportedly offering €1.5bn and a four-year investment plan.
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