EC prohibits merger between Siemens and Alstom’s mobility businesses
The European Commission has announced its decision to prohibit the proposed combination of the Siemens and Alstom’s mobility businesses.
Siemens and Alstom regret that the remedies they offered have been considered insufficient by the EU Commission. The remedies were extensive and addressed all the concerns raised by the Commission with respect to signaling as well as very high-speed trains. In addition, a number of credible and well-established European players expressed strong interest in the remedy package, thereby fully confirming its viability.
Siemens and Alstom have said they are convinced that the transaction would have created substantial value for the global mobility sector, the European railway industry, customers, travelers and commuters, without harming European competition. It would have also allowed the creation of a European player having the ability to cope with the growing competition from non-EU companies.
Siemens says it will take the time to assess all options for the future of Siemens Mobility and choose the best for its customers, its employees and its shareholders.