MILAN (Reuters) - The board of Finmeccanica (>> Finmeccanica SpA) has asked CEO Mauro Moretti to continue talks over the sale of its rail assets, the group said on Thursday, following reports that two Chinese companies were considering a bid.

In a statement, the Italian group said Moretti updated the board on the sale process, without elaborating.

Two people familiar with the matter told Reuters that technology firm Insigma (>> Insigma Technology Co.,LTD) has teamed up with another Chinese company to try to buy the rail assets, a move that could thwart a rival bid from Hitachi (>> Hitachi, Ltd.).

(This version corrects headline and first paragraph after company removes reference to talks timeframe)

(Reporting by Danilo Masoni; editing by Agnieszka Flak)

Stocks treated in this article : Finmeccanica SpA, Hitachi, Ltd., Insigma Technology Co.,LTD