France’s Alstom and Germany’s Siemens have a deal ready to sign that would merge their rail businesses in the face of Chinese competition.
Alstom, which makes the French TGV high-speed train, confirmed Friday, September 22, that it was talking to Siemens about a possible railway tie-up, but said no decision had been taken.
German newspaper Handelsblatt however, citing “insiders” familiar with the deal, said Monday the two groups have overcome past reservations about a joint venture with a “balanced agreement acceptable to both sides.
But Siemens has also been courting Canadian firm Bombardier, whose European operations are based in Berlin, and the two companies have their own detailed plan for two joint ventures covering rolling stock and signalling.
The Munich-based group’s supervisory board is set to meet Tuesday to discuss the two options, Deutsche Wellet reported, while Alstom’s executive board will also meet.
Handelsblatt reported that European authorities were expected to green light the deal as it would create an EU-based champion on global markets. Advisers to German Chancellor Angela Merkel and French President Emmanuel Macron were involved in the talks, Le Monde reported.
Full Content: DW
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Knew Publishers Would Resist Ad Sales Changes, According to Internal Documents in Antitrust Trial
Sep 13, 2024 by
CPI
Federal Antitrust Trial Explores Potential Impact of Tapestry-Capri Merger
Sep 12, 2024 by
CPI
Australia Targets Big Tech with New Fines for Misinformation
Sep 12, 2024 by
CPI
Mastercard to Acquire Cybersecurity Firm Recorded Future for $2.65 Billion
Sep 12, 2024 by
CPI
Ireland Prime Minister: Apple’s €13 Billion Payment Could Fund Housing and Capital Projects
Sep 12, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández