Canadian plane and train maker Bombardier has pulled out of the race for Finmeccanica’s rail units AnsaldoBreda and Ansaldo STS, 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.
Bombardier and Finmeccanica declined to comment.
Along with Japanese group Hitachi, Bombardier was seen as a front-runner in the race. The other contenders are France’s Thales, Spain’s CAF and a Chinese duo comprising CNR Corp and Insigma Technology, sources have previously said.
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.
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