Alstom, Siemens seek to calm EU concerns over rail merger

Monday January 28, 2019
Written by The Associated Press
January 28, 2019 – France's Alstom says that it and Germany's Siemens have offered new concessions in an effort to overcome European authorities' concerns about the planned merger of their train-building operations.

A European Union decision on whether to allow the deal to go ahead is expected soon. The two countries' governments favour what they view as the creation of a European champion, but Brussels has concerns about competition in Europe.

Alstom said in a statement Monday that the two companies "have decided to further modify the remedies" to address the concerns raised. It said "this package preserves the industrial and economic value of the deal" but cautioned that there's "no certainty" it will satisfy the EU.

Alstom is best-known for France's TGV and Siemens for Germany's ICE high-speed trains.

News from © The Canadian Press Enterprises 2019

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