A PYMNTS Company

EU: Moscovici says EC will be objective on Alstom-Siemens deal

By  |  January 15, 2019

The European Commission will be objective—but not naive—and will take into account future economic developments when it decides over a rail deal between industrial groups Alstom and Siemens, an EU senior official said.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “We want to take into account the evolutions of the economy of tomorrow. We are not naive,” EU Economics Commissioner Pierre Moscovici told reporters on Tuesday, January 15, after the Commission’s weekly meeting, at which the Franco-German deal was discussed.

    Antitrust Commissioner Margrethe Vestager briefed her fellow commissioners over the merger, in an unusual discussion over competition matters prompted by strong pressure from Paris and Berlin to authorize the deal.

    Moscovici, addressing reporters about the meeting, said that as a French national he was “attentive” to Paris’s arguments, but stressed the decisions that will be made will be objective and “with a strategy.”

    Supporters of the deal say EU antitrust rules should be updated so that they can foster European industrial champions against international competition. Moscovici said the EU policy was not “obsolete.”

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.