Finance ministers from smaller European Union states on Tuesday opposed a plan t...
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French minister blasts EU decision to block Alstom-Siemens merger in face of Chinese competitionFrance's finance minister expressed his disappointment at a recent EU decision to block a major rail merger, calling for competition rules to be changed to enable European firms to become stronger on the global stage.
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Rail Mega-Merger, Seen as Bid to Counter China, Gets Final Blow From EUThe European Union blocked a planned merger between the rail units of Germany’s Siemens and France’s Alstom, a move critics said would hamper Europe’s ability to compete with China.
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Derailed train M&A spells poor EU antitrust revampCompetition tsar Margrethe Vestager blocked Siemens and Alstom’s rail merger in defiance of Franco-German pressure. Paris and Berlin are agitating for rule changes and may back a replacement who will be more willing to create regional champions. That would be a mistake.
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