On Tuesday, October 9, Europe’s antitrust chief Margrethe Vestager said she wants to hear critics of Siemens and Alstom’s plan to create a Franco-German rail champion which is being investigated by the European Commission, reported Reuters.
The Commission in July opened a probe, saying the deal—which could create a global leader with three times the market share of its closest rival—could reduce competition and lead to higher fares for travelers.
“People are coming to us with concerns saying that this would be a very big company in Europe. The analysis is still ongoing. We hope anyone with concerns will come forward to us. It is not too late. Please come forward if there are any concerns,” Vestager told a European Parliament hearing.
German industrial group Siemens and French rival Alstom announced the planned rail merger in September last year, an industrial boost for French President Emmanuel Macron which has prompted criticism from opposition politicians. In July shareholders in Alstom voted in favor of the proposed merger with Siemens mobility division.
Vestager said the Commission’s investigation would look into the role of other big global companies in Europe and whether these would provide a competitive constraint to the merged company.
Full Content: Reuters
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