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EU: Alstom shareholders approve Siemens merger

 |  July 18, 2018

Shareholders in Alstom voted in favor of the proposed merger with Siemens mobility division, the company announced Tuesday, July 17.

The French train maker agreed to the merger in 2017 in an effort to meet the challenge of increased pressure from Asian competitors, primarily China’s CRRC Corp.

However, the deal has provoked controversy in France, where some politicians are reluctant to give up an industrial crown jewel, and in Brussels, where EU regulators recently opened an antitrust investigation into the transaction. Alstom said it still expects the deal to close in the first half of 2019.

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