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Competition Commission approves Alstom-Siemens deal

Press Trust of India  |  New Delhi 

The has approved the deal to merge rail operations of French and German firm

is a in the world industry and is also engaged in the mobility in

Siemens' mobility offers a broad portfolio of rail automation and signalling solutions, rail electrification systems, and IT solutions, among others. The firm is engaged in various activities in India, including the mobility business.

"@CCI_India approves the combination of and the mobility business of Siemens," the fair trade regulator said in a tweet Monday.

"This filing concerns the strategic combination of Alstom and the mobility business of Siemens, the ultimate parent of the group of companies, by way of a contribution of Siemens' mobility business to Alstom in consideration for newly issued Alstom shares (the proposed transaction)," said the joint notice submitted to the of (CCI) by the two firms.

According to the notice, the transaction broadly concerns the Indian mobility sector, which relates to the supply of solutions, services and products to owners or operators of including signalling systems and for the of passengers and freight.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 21:05 IST