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Alstom - Siemens

EN NW PKG SIEMENS ALSTOM MERGER EU REFUSAL

European Union authorities on Wednesday rejected a massive rail merger deal between France's Alstom and Germany's Siemens in what the two nations had hoped would have created a global competitor to stand up to China.EU Antitrust Commissioner Margrethe Vestager said it would have created a near monopoly in the European market, choking fair competition and leading to higher prices for passengers.In her decision, she withstood political pressure from the EU's two most powerful nations."The Commission prohibited the merger because the companies were not willing to address our serious competition concerns," she said.

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