BERLIN — France and Germany are demanding a revamp of the EU’s competition policy after the European Commission decided Wednesday to block a proposed merger between rail titans Alstom and Siemens.
Both Paris and Berlin had fought for the creation of a European rail champion, aimed at competing with Chinese rivals, but Brussels concluded the deal was “incompatible” with the internal market and would harm competition for railway signalling systems and high-speed trains.
“We have to look to the future and reset European competition rules,” said France’s Economy Minister Bruno Le Maire, adding that together with his German counterpart Peter Altmaier, the …read more
Source: European Voice
