Alstom: EU prohibits Siemens' proposed acquisition of Alstom
(CercleFinance.com) - It's now official: the European Commission has blocked the planned merger between the European rail equipment makers Alstom and Siemens Mobility.
The merger "would have created the undisputed market leader in some signalling markets and a dominant player in very high-speed trains. It would have significantly reduced competition in both these areas, depriving customers, including train operators and rail infrastructure managers of a choice of suppliers and products," the European competition authorities said.
"The parties did not offer remedies sufficient to address these concerns," it added.
Competition commissioner, Margrethe Vestager, stated: "Without sufficient remedies, this merger would have resulted in higher prices for the signalling systems that keep passengers safe and for the next generations of very high-speed trains".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The merger "would have created the undisputed market leader in some signalling markets and a dominant player in very high-speed trains. It would have significantly reduced competition in both these areas, depriving customers, including train operators and rail infrastructure managers of a choice of suppliers and products," the European competition authorities said.
"The parties did not offer remedies sufficient to address these concerns," it added.
Competition commissioner, Margrethe Vestager, stated: "Without sufficient remedies, this merger would have resulted in higher prices for the signalling systems that keep passengers safe and for the next generations of very high-speed trains".
Copyright (c) 2019 CercleFinance.com. All rights reserved.