10/31/2018, 3:17 PM (Source: TeleTrader)
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Siemens gets EU warning on Alstom acquisition

The European Commission expressed concern that competition could be impacted with Siemens AG's deal to purchase Alstom SA, the Wall Street Journal reported on Wednesday, citing a letter sent by the regulator to the German engineering giant. The rail and signaling merger, aimed at fortification against rivals from China, apparently raised a list of issues for the European Union's executive arm.

The media outlet quoted Richard Speich, representative of Siemens, saying the letter was received and that the company would work on remedies. They are due to be presented before the deadline for the commission's decision, scheduled for January 28, after an extension of 20 working days. The panel said in July that higher prices "could ultimately harm the millions" of travelers in the continent.

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