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EU antitrust regulators to investigate Siemens, Alstom rail merger

Reuters  |  BRUSSELS 

(Reuters) - EU antitrust regulators opened an in-depth investigation on Friday into a plan by and to merge their rail businesses, saying that the deal could reduce competition for trains and signalling systems.

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 said.

It set a Nov. 21 deadline to decide whether to clear the deal. The companies can offer concessions to address regulatory concerns.

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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

First Published: Fri, July 13 2018. 20:48 IST