The European Commission has blocked the proposed merger of Siemens Mobility and Alstom, saying the companies had not offered sufficient remedies to address its concerns about the impact on competition in the signalling and very high speed train markets. ‘Siemens and Alstom are both champions in the rail industry’, explained Commissioner in charge of competition […]
According to a report from Bloomberg, the French government is calling for changes to the EU’s antitrust laws. “I’m realistic on what the commission’s decision will be on Alstom-Siemens,” French Finance Minister Bruno Le Maire said in a speech in Paris on Thursday, January 31. “I draw one conclusion from this: the EU competition rules […]
Efforts by Alstom and Siemens to create a European rail champion could yet hit the buffers despite their latest concessions to try to address antitrust concerns. The merger aims to create the world’s second largest rail company—with combined revenues of about €15 billion (US$17.1 billion)—but the deal has met opposition since it was announced in […]
The European Commission is reviewing last-minute changes from Alstom and Siemens aimed at getting a green light for the planned merger of their rail activities, EU Competition Commissioner Margrethe Vestager told Reuters. Vestager confirmed the firms had made new concessions on the terms of the deal on Friday, January 25, but said the changes were […]
According to Bloomberg, Siemens and Alstom are considering adding sweeteners to a package of assets for sale in a last-ditch effort to gain antitrust approval from the European Commission and salvage their rail deal, according to people familiar with the matter. The German and French train equipment suppliers’ new offerings include possible contract extensions and […]
The European Commission will be objective—but not naive—and will take into account future economic developments when it decides over a rail deal between industrial groups Alstom and Siemens, an EU senior official said. “We want to take into account the evolutions of the economy of tomorrow. We are not naive,” EU Economics Commissioner Pierre Moscovici […]
Germany’s antitrust authority has expressed concerns to the European Union’s competition watchdog about the planned merger of the rail operations of Siemens and France’s Alstom, a newspaper reported on Sunday, January 13. The EU watchdog is set to decide by February 18 whether to approve the merger, with French newspaper Les Echos reporting that the […]
Industrial groups Siemens and Alstom are discussing additional divestments with the European Commission to win approval for their plan to create a joint Franco-German rail champion, sources told Reuters. The move is meant to overcome concerns from antitrust commissioner Margrethe Vestager, who in December voiced her doubts over the impact that their deal would have […]
EU antitrust chief Margrethe Vestager on Tuesday, December 18, voiced concerns over a plan by Siemens and Alstom to create a Franco-German rail champion and its effect on high-speed trains in Europe. German industrial group Siemens and French rival Alstom last week offered to sell either one of their high-speed train technologies and the bulk […]
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% […]