The nonlinear dynamics of the interface between ideal dielectric fluids in the presence of tangential discontinuity of the velocity at the interface and the stabilizing action of the horizontal electric field is examined. It is shown that the regime of motion of the interface where liquids move along the field lines occurs in the state of neutral equilibrium where electrostatic forces suppress Kelvin?Helmholtz instability. The equations of motion of the interface describing this regime can be reduced to an arbitrary number of ordinary differential equations describing the propagation and interaction of structurally stable solitary waves, viz. rational solitons. It is shown that weakly interacting solitary waves recover their shape and velocity after collision, whereas strongly interacting solitary waves can form a wave packet (breather).