The European Union blocked the rail deal between Alstom and Siemens on Wednesday, citing competition concerns.
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Siemens-Alstom is poor advert for EU championsGerman and French politicians are annoyed because the rail merger may be blocked. But their argument that the deal is needed to shield Europe from Chinese competition is flawed. The duo’s workers may also suffer. This is the wrong regional standard-bearer to promote.
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French minister says EU rejects Alstom, Siemens mergerPARIS (AP) — European Union authorities have decided to reject a merger between the rail activities of France's Alstom and Germany's Siemens, the French finance minister said Wednesday. Bruno Le Maire said on France 2 television that he considers the decision to be 'an economic mistake.' The veto on the merger is expected to be formally announced by the EU's competition commissioner later in the day. Le Maire said the ruling will block the creation of a European rail giant that could have competed with Chinese giant CRRC. 'It's going to serve China's economic and industrial interests,' he said.
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Merger partners need to look closer to home to win over EU regulatorsAs Siemens and Alstom face EU rejection of their plan to create a European rail ...
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Germany on Siemens/Alstom merger plan: Back stronger global competition rulesGerman Economy Minister Peter Altmaier said on Tuesday that he did not favor get...
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French minister says EU rejects Alstom, Siemens mergerPARIS (AP) — European Union authorities have decided to reject a merger between the rail activities of France's Alstom and Germany's Siemens, the French finance minister said Wednesday. Bruno Le Maire said on France 2 television that he considers the decision to be 'an economic mistake.' The veto on the merger is expected to be formally announced by the EU's competition commissioner later in the day. Le Maire said the ruling will block the creation of a European rail giant that could have competed with Chinese giant CRRC. 'It's going to serve China's economic and industrial interests,' he said.
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Germany on Siemens/Alstom merger plan: Back stronger global competition rulesGerman Economy Minister Peter Altmaier said on Tuesday that he did not favor get...
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Siemens makes last ditch appeal for EU to approve rail mergerSiemens has made a last gasp appeal to European antitrust authorities not to be ...
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Siemens-Alstom is poor advert for EU championsGerman and French politicians are annoyed because the rail merger may be blocked. But their argument that the deal is needed to shield Europe from Chinese competition is flawed. The duo’s workers may also suffer. This is the wrong regional standard-bearer to promote.
Read more »