January 27, 2019 / 12:35 PM / 8 months ago

French finance minister says no grounds now for EU veto of Alstom-Siemens rail deal

FILE PHOTO: French Finance Minister Bruno Le Maire attends the questions to the government session at the National Assembly in Paris, France, November 27, 2018. REUTERS/Gonzalo Fuentes/File Photo

PARIS (Reuters) - French Finance Minister Bruno Le Maire said that there were no grounds for the European Commission to veto the proposed merger of Alstom’s (ALSO.PA) and Siemens’ (SIEGn.DE) rail activities, confirming the firms had made new concessions on the deal terms.

“Alstom and Siemens have just made fresh concessions to the European Commission,” Le Maire told France Inter radio.

“There is no remaining justification for a refusal by the European Commission of the merger.”

A source familiar with the matter said on Friday that the companies had added concessions to allay EU antitrust concerns.

Reporting by Gus Trompiz and Danielle Rouquie; Editing by Kirsten Donovan

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