[$$] EU refuses to bend to political winds on Siemens-Alstom merger
Posted on Wednesday December 12, 2018

European authorities are at risk of becoming the “idiots of the global village”, Hubert Védrine, a former French foreign minister, once remarked. to create a European champion. risks being crushed between two competing power blocks — an increasingly protectionist US and an assertive, mercantilist China — unless it nurtures its own giant companies, the argument goes.

Alstom, Siemens submit measures to EC to get their merger deal passed
Posted on Wednesday December 12, 2018

PARIS/FRANKFURT (Reuters) - Alstom (ALSO.PA) and Siemens (SIEGn.DE) have agreed to submit measures to the European Commission that would reduce their combined sales by more than half a billion euros in a bid to get their planned rail merger approved, showing they will budge, but not at any expense. Germany's Siemens and France's Alstom agreed last year to merge their rail operations, creating a company with 15 billion euros (13.6 billion pounds) in revenue and a workforce of 62,000, but regulators raised concerns over the deal. "The proposed remedies include mainly signalling activities as well as rolling stock products and represent around four percent of the sales of the combined entity," Siemens and Alstom said in a brief joint statement on Wednesday.

[$$] Siemens and Alstom submit EU concessions proposal to secure deal
Posted on Wednesday December 12, 2018

have sent proposed concessions to European authorities after the EU said the companies would have to give up prized assets in order to get their massive rail merger over the line. The remedies might involve assets sales or the granting of licenses to competitors in the relevant areas.

[$$] Siemens, Alstom Outline Divestments
Posted on Tuesday December 11, 2018

SA (ALO.FR) on Wednesday said that they submitted proposals for divestments to the European Commission in an effort to assuage regulator concerns over the planned merger of their rail businesses. The proposed divestments include some signaling activities and rolling-stock products and would represent around 4% of the sales of the combined entity, the companies said in a joint statement. Siemens and Alstom said they consider the measures to be appropriate and adequate but there was no certainty they would be sufficient to alleviate the commission’s concerns.