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2/6, 9:54 AM (Source: TeleTrader)
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Siemens-0.08%

117.78
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Alstom-0.67%

41.380
Chart for: ALSTOM

EU competition rules are obsolete - French FinMin

France's Finance Minister Bruno Le Maire said on Wednesday that he would object to a probable European Commission veto on the merger between French rail transportation company Alstom SA and German tech conglomerate Siemens AG.

"I challenge the technical analysis made by the European Commission," he told local media, adding that European Union's competition rules are "obsolete."

Media reported earlier that the EC will veto a merger between Alstom and Siemens. Over the weekend, French European Affairs Minister Nathalie Loiseau pointed out that France needs the merger to go through so that Alstom could rival big Chinese rail firms.

Breaking the News / NI