EU regulators have set a new deadline for a decision on whether to give the green light to plans by French train-maker Alstom to take over rival Bombardier Transportation.
Last month, a filing on the European Commission’s website showed it had set itself a deadline of July 16 to make a decision on whether to allow the deal to go-ahead.
However, the EU competition enforcer has now set a new deadline of July 31 after Alstom offered to sell assets to address competition concerns.
It will now seek feedback from rivals and customers of both companies before deciding whether to accept the package or demand more in line with its procedures.
Back in February, the parent company of Bombardier Transportation, which has its UK train-making factory in Derby, confirmed it had agreed to sell the business to Alstom for up to €6.2 billion (US$70.36 billion).
At the time, Bombardier signed a memorandum of understanding with the French firm to sell its rail business in order to reduce its huge debts and focus on the business jet market.
Full Content: Reuters