Siemens and Alstom’s plan to create a Franco-German rail champion could reduce competition and lead to higher fares for travelers, EU antitrust regulators said on Friday, July 13, as they opened a full-scale investigation into the deal.
The deal, which would create a Franco-German rail champion competing with bigger rival CRRC and Canada’s Bombardier Transportation, could lead to higher prices and ultimately harm consumers, the European Commission said.
The EC set a November 21 deadline to decide whether to clear the deal. The companies can offer concessions to address regulatory concerns.
Full Content: Reuters
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