A PYMNTS Company

Germany: Mundt warns of tough Siemens/Alstom review

 |  May 28, 2014

A day after engineering giant Siemens appealed to French lawmakers that its acquisition of Alstom would be more beneficial than General Electric’s proposed purchase, German’s competition regulator is warning that Siemens would face strict regulatory review of the deal by the European Commission.

Germany’s Federal Cartel Office head Andreas Mundt spoke to reporters to comment on the deal following Siemens’ meeting in France.

Siemens proposed an acquisition of Alstom’s power assets, while Alstom would receive Siemens’ train operations. The move, some experts say, would boost efforts for a pan-EU railway system.

Siemens is reportedly looking to submit an asset swap proposal for the deal to secure plans despite General Electric’s near double bid for Alstom.

Full content: MSN

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