France is calling for more lenient antitrust rules from the European Commission following the nation’s failed plans to create a new energy and transport conglomerate through a merger with Alstom.
Germany’s Siemens had battled with the US’s General Electric to merge with Alstom; Siemens, reports say, had sought to acquire Alstom’s energy assets and leave its transport operations to spearhead France’s efforts for a new, trans-European railway.
But ultimately, General Electric won over Alstom, even after France forced GE to delay its bid and allow Siemens to make a counter offer. Siemens eventually abandoned the pursuit over fears the deal would be blocked by the Commission.
France is now encouraging member states to elect the next competition commissioner that shares a similar policy orientation with France, reports say.
France’s saga exemplifies a disconnect between the needs of member states and the EU; he EU is looking to foster competition, while individual member states are seeking a strengthening of their domestic markets, reports say.
Full content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI