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According to Reuters, German industrial group Siemens and French rival Alstom AG will be revealed before July 13 on whether the railway business merger can be approved by the EU Antitrust Commission
.
According to reports, Germany's Siemens and Alstom plan to better compete with
CRRC by merging their railway businesses.
The European Commission has set a deadline after two companies seek approval, confirming that it will be published
by July 13.
The EU's competition regulator can approve the deal with or without concessions, or it can launch a four-month investigation
if it has serious concerns.
Siemens and Alstom announced an agreement last September to potentially merge the French TGV and Germany's ICE high-speed trains, as well as railway businesses such as signaling and rail technology, and the two companies have been in informal talks
with the committee ever since.
While the deal was seen as a Franco-German industrial breakthrough for French President Emmanuel Macron, it angered opposition politicians and trade unions, who feared it would increase unemployment
.
According to Reuters, German industrial group Siemens and French rival Alstom AG will be revealed before July 13 on whether the railway business merger can be approved by the EU Antitrust Commission
.
According to reports, Germany's Siemens and Alstom plan to better compete with
CRRC by merging their railway businesses.
The European Commission has set a deadline after two companies seek approval, confirming that it will be published
by July 13.
The EU's competition regulator can approve the deal with or without concessions, or it can launch a four-month investigation
if it has serious concerns.
Siemens and Alstom announced an agreement last September to potentially merge the French TGV and Germany's ICE high-speed trains, as well as railway businesses such as signaling and rail technology, and the two companies have been in informal talks
with the committee ever since.
While the deal was seen as a Franco-German industrial breakthrough for French President Emmanuel Macron, it angered opposition politicians and trade unions, who feared it would increase unemployment
.
