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Update: Market Chatter: Hitachi Arm, Platinum Equity in Fray for Swarco Unit

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(Updates to include Hitachi's response to' request for comment.)

Hitachi (TYO:6501) arm will compete with several bidders, including investment firm Platinum Equity, to acquire a stake in the Swarco unit, owned by Austria's Swarovski family, Bloomberg News reported Friday, citing people familiar with the matter.

The deal, which could be valued at about 1 billion euros, would include Swarco's intelligent transport systems unit.

Regarding the Bloomberg report, Hitachi toldthat, "as standard practice, Hitachi refrains from commenting on any speculations."

The company said it had no further comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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