EU: Siemens and Alstom offer divestments to win merger approval

Reuters reported that Siemens and Alstom have offered to sell either one of their high-speed train technologies to address EU antitrust concerns about their plan to create a Franco-German rail company, people familiar with the matter said on Monday, December 17.

Germany’s Siemens and France’s Alstom submitted an offer last week to divest about 4% of the combined company, namely the bulk of Alstom’s signaling business Pendolino in Europe in addition to some Siemens signaling assets platform, Velaro Novo, according to Reuters’ sources.

Pendolino trains have been sold to 12 operators in 12 countries. Siemens’ Velaro Novo high-speed trains, on the other hand, will only enter service in 2023.

Additionally, the offer included plans for a five-year license to sell the trains in Europe.

The European Commission has given rivals and customers this week to provide feedback. A negative response could prompt the regulator to demand more concessions from Siemens and Alstom before it makes a ruling by February 18.

Full Content: The Globe and Mail

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

RECOMMENDED FOR YOU
 


More Articles