Alstom: confident on merger with Siemens Mobility
(CercleFinance.com) - When confirming its financial forecasts for 2018/2019, Alstom provided details on the merger with Siemens Mobility, the German group's railway division.
This project remains suspended, pending a decision that the seemingly reluctant European Commission is set to deliver by 18 February.
According to the rail equipment manufacturer, this planned merger progressed last quarter (from October to December 2018). In response to the reluctance and the European Commission's investigation, on 12 December both groups proposed compensatory measures to respond to the European competition regulator's grievances. Since then, the parties have had an ongoing dialogue with the Commission, Alstom adds.
Alstom and Siemens Mobility consider that these "remedies," which relate to certain signaling and rolling stock activities, are appropriate and adequate. It remains to be seen what the Commission will think about this, which will render its decision on this planned merger by 18 February.
Siemens and Alstom still expect to finalise their merger in the first half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
This project remains suspended, pending a decision that the seemingly reluctant European Commission is set to deliver by 18 February.
According to the rail equipment manufacturer, this planned merger progressed last quarter (from October to December 2018). In response to the reluctance and the European Commission's investigation, on 12 December both groups proposed compensatory measures to respond to the European competition regulator's grievances. Since then, the parties have had an ongoing dialogue with the Commission, Alstom adds.
Alstom and Siemens Mobility consider that these "remedies," which relate to certain signaling and rolling stock activities, are appropriate and adequate. It remains to be seen what the Commission will think about this, which will render its decision on this planned merger by 18 February.
Siemens and Alstom still expect to finalise their merger in the first half of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.