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EU opposes renewed Siemens-Alstom deal - Bloomberg

Published 01/28/2019, 06:03 AM
Updated 01/28/2019, 06:03 AM
© Reuters.  EU opposes renewed Siemens-Alstom deal - Bloomberg

© Reuters. EU opposes renewed Siemens-Alstom deal - Bloomberg

  • A last-ditch bid by Siemens (OTCPK:SIEGY) and Alstom (OTCPK:ALSMY) to win EU approval for their planned rail merger isn't good enough to allay concerns about competition, sources told Bloomberg.
  • A collapse of the deal would be a setback for the two major European industrial manufacturers.
  • Their plan, unveiled in September 2017, intended to build a transportation giant to counter global competition, especially from China.
  • Now read: GE's reworked rail deal shows company 'desperate for cash,' analyst says


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