GE Europe President and CEO Mr Nani Beccalli-Falco said: "When things drag on for a long time they become difficult to conclude. The first time we looked at Ansaldo STS was 10 years ago and we never concluded anything. There is no room to reach an agreement."

Finmeccanica announced in 2012 that it intended to sell its 40% stake in Ansaldo STS as part of a broader asset disposal programme, which includes AnsaldoBreda and is intended to reduce the group's debts.

Following GE's announcement, Ansaldo STS' share price dropped 9% in early trading on April 7.