Siemens: changes to remedies presented to Brussels
(CercleFinance.com) - Siemens and Alstom have announced that they have decided to change the remedies submitted to the European Commission on 12 December 2018 for their planned merger, in order to respond to concerns expressed on the results of market testing.
"This package preserves the industrial and economic value of the deal - the order of magnitude of concerned sales communicated previously (i.e., around four percent of the sales of the combined entity) remaining unchanged," they said.
However, both industrial groups still have no certainty that the content of this proposal will be enough to satisfy Brussels' concerns. The Commission is expected to decide by 18 February 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"This package preserves the industrial and economic value of the deal - the order of magnitude of concerned sales communicated previously (i.e., around four percent of the sales of the combined entity) remaining unchanged," they said.
However, both industrial groups still have no certainty that the content of this proposal will be enough to satisfy Brussels' concerns. The Commission is expected to decide by 18 February 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.