The European Commission is reviewing last-minute changes from Alstom and Siemens aimed at getting a green light for the planned merger of their rail activities, EU Competition Commissioner Margrethe Vestager told Reuters.
Vestager confirmed the firms had made new concessions on the terms of the deal on Friday, January 25, but said the changes were submitted on Day 110 of the process, which was “way, way over the usual deadline.”
Asked if the door was still open for a possible agreement, Vestager said, “We’re looking at what was handed over to us this Friday. This is the last push, if at all possible.”
Speaking during a visit to Berlin to the congress of Germany’s pro-business Free Democrats party, Vestager declined to address any specific changes proposed by the two companies, noting the case was still under review.
People familiar with the matter said last week that the EU competition watchdog would block the deal, with a decision likely on February 6 ahead of the February 18 deadline.
The rail merger would create the world’s second largest rail company with combined revenues of around €15 billion (US$17 billion), roughly half the size of China’s state-owned CRRC Corp but double Canada’s Bombardier.
French Finance Minister Bruno Le Maire said that there were no grounds for the European Commission to veto the proposed merger of Alstom’s and Siemens’ rail activities, confirming the firms had made new concessions on the deal terms. “Alstom
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