French finance minister blasts EU decision to block Alstom-Siemens merger in face of Chinese competition
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French minister says EU rejects Alstom, Siemens mergerPARIS (AP) — European Union authorities have decided to reject a merger between the rail activities of France's Alstom and Germany's Siemens, the French finance minister said Wednesday. Bruno Le Maire said on France 2 television that he considers the decision to be 'an economic mistake.' The veto on the merger is expected to be formally announced by the EU's competition commissioner later in the day. Le Maire said the ruling will block the creation of a European rail giant that could have competed with Chinese giant CRRC. 'It's going to serve China's economic and industrial interests,' he said.
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EU blocks plan for Alstom-Siemens rail mergerThe European Union blocked the rail deal between Alstom and Siemens on Wednesday, citing competition concerns.
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Siemens-Alstom is poor advert for EU championsGerman and French politicians are annoyed because the rail merger may be blocked. But their argument that the deal is needed to shield Europe from Chinese competition is flawed. The duo’s workers may also suffer. This is the wrong regional standard-bearer to promote.
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Alstom, Bombardier stocks rise after EU blocks Siemens dealThe European Commission's decision to block a tie-up between Alstom and Ger...
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Merger partners need to look closer to home to win over EU regulatorsAs Siemens and Alstom face EU rejection of their plan to create a European rail ...
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Rail Mega-Merger, Seen as Bid to Counter China, Gets Final Blow From EUThe European Union blocked a planned merger between the rail units of Germany’s Siemens and France’s Alstom, a move critics said would hamper Europe’s ability to compete with China.
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