On Tuesday, October 9, Europe’s antitrust chief Margrethe Vestager said she wants to hear critics of Siemens and Alstom’s plan to create a Franco-German rail champion which is being investigated by the European Commission, reported Reuters.
The Commission in July opened a probe, saying the deal—which could create a global leader with three times the market share of its closest rival—could reduce competition and lead to higher fares for travelers.
“People are coming to us with concerns saying that this would be a very big company in Europe. The analysis is still ongoing. We hope anyone with concerns will come forward to us. It is not too late. Please come forward if there are any concerns,” Vestager told a European Parliament hearing.
German industrial group Siemens and French rival Alstom announced the planned rail merger in September last year, an industrial boost for French President Emmanuel Macron which has prompted criticism from opposition politicians. In July shareholders in Alstom voted in favor of the proposed merger with Siemens mobility division.
Vestager said the Commission’s investigation would look into the role of other big global companies in Europe and whether these would provide a competitive constraint to the merged company.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI