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Siemens, Alstom deal faces full-scale EU antitrust probe - sources

Reuters  |  BRUSSELS/FRANKFURT 

By Foo Yun and Tom Sims

BRUSSELS/FRANKFURT (Reuters) - and are set to face a full-scale EU antitrust investigation this week after declining to provide concessions to allay regulatory concerns about their plan to combine their rail operations, two people familiar with the matter said.

German group and French rival want to create a Franco-German rail champion to compete more effectively with bigger rival CRRC and Canada's

The companies had until July 6 to offer concessions to the but did not do so. Some firms prefer to wait for the EU antitrust enforcer to set out possible anti-competitive issues so they can tailor concessions to address them.

The Commission is expected to open a 90-working day investigation on Friday following the end of its preliminary review, the people said.

The Commission and declined to comment.

Siemens is seeking to convince regulators by citing the competitive threat from CRRC and that it does not compete with in rolling stocks, trains and

Competitors have expressed scepticism, saying that the two companies are the dominant players in which can squeeze them out after the deal.

(Reporting by Foo Yun in Brussels and Tom in Frankfurt. Editing by Jane Merriman)

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

First Published: Mon, July 09 2018. 23:26 IST
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