![]() Over the past 10 years, the EU executive approved 3,000 mergers and rejected seven acquisitions.ĭo we need a European champion to compete versus China? France and Germany argued that Siemens’ acquisition of Alstom was essential to compete with Chinese CRRC, the largest train maker in the world.īut Vestager said that neither in the business of signalling systems nor in the high-speed train sector was the arrival of Chinese competitors in the European market expected “in the foreseeable future”. On Wednesday, it was the first time ever the Commission announced two prohibition decisions on the same day. “Prohibition decisions are rare”, said Vestager in her opening remarks. Here are the main takeaways of her decision: Juncker prepares the ground for Alstom-Siemens merger rejectionĮuropean Commission President Jean-Claude Juncker said on Tuesday (5 February) that the institution “will never play favourites” as the EU executive reportedly prepares to reject the Alstom-Siemens merger, despite intense political pressure from France and Germany.
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