Siemens Chief Executive Joe Kaeser would prefer to have only a minority stake in the venture.
“The situation on the global market for fossil power plant technology remains unchanged. Siemens began tackling these challenges back in early 2015,” a company spokesman said.
The business has suffered from a move away from large gas turbines toward renewable energy sources which has triggered a collapse in demand, while overcapacity in the industry has caused fierce price competition.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
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
Chamber of Commerce Sues to Overturn FTC Noncompete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 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