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EU: Delays power deal

By  |  February 25, 2015

EU competition regulators have launched a probe into US group General Electric’s planned 12.4-billion-euro acquisition of the energy business of French rival Alstom.

The European Commission said the deal would eliminate one of the three main competitors to GE in the market for heavy-duty gas turbines, potentially affecting customers in the 28-nation bloc.

“We are concerned that the proposed acquisition might not only lead to higher prices but also result in less choice for customers and less innovation in the sector,” EU Competition Commissioner Margrethe Vestager said in a statement on Monday.

 

Full Content: Herald Sun

 

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