July 13, 2018 / 3:16 PM / 8 days ago

EU antitrust regulators to investigate Siemens, Alstom rail merger

BRUSSELS, July 13 (Reuters) - 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. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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