EU antitrust regulators opened an in-depth investigation on Friday into a plan by Siemens and Alstom to merge their rail businesses, saying that the deal could reduce competition for trains and signalling systems.
The deal, which would create a Franco-German rail champion competing with bigger rival CRRC and Canada`s Bombardier Transportation, could lead to higher prices and ultimately harm consumers, the European Commission said.
It set a Nov. 21 deadline to decide whether to clear the deal. The companies can offer concessions to address regulatory concerns.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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