January 17, 2019 / 6:55 AM / 6 months ago

Alstom says it is making progress on planned tie-up with Siemens

PARIS, Jan 17 (Reuters) - French transport infrastructure group Alstom said it was making progress on its planned tie-up with Germany’s Siemens, as the pair fight to win over regulators concerned that the deal could stifle competition in the sector.

“The proposed combination of Alstom with Siemens Mobility, including its rail traction drive business, has progressed in the last quarter,” Alstom said on Thursday, adding that both companies had presented proposals to win over regulators.

“The proposed remedies include mainly signalling activities as well as rolling stock products and represent around four percent of the sales of the combined entity. The parties consider that the proposed remedy package is appropriate and adequate,” added Alstom. (Reporting by Sudip Kar-Gupta; Editing by Himani Sarkar)

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