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1/18/2019, 1:48 PM (Source: TeleTrader)
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Vestager to meet with Alstom trade unions

The European Union's Competition Commissioner Margrethe Vestager will meet representatives of Alstom trade unions on Monday, January 21 in order to discuss the company's potential merger with Siemens. The Commissioner and the employees of France's high-speed TGV train maker are meeting shortly before the announced deadline for the approval of the deal with Germany's electronics giant.

The merger deal has been suspended by the Commission since August due to the fear the agreement could have a harmful impact on travelers and the transport industry as a whole, as it would reduce competitiveness and bring higher costs. The Financial Times earlier reported that Siemens and Alstom won't offer more concessions to Brussels in their quest to have their merger approved.

Media reported that Vestager is strongly opposed to the said agreement, despite strong political support for the consolidation of the two firms in both France and Germany.

Breaking the News / MA