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EU’s Kallas Criticizes Deutsche Bahn Accounting, FTD Reports

May 21 (Bloomberg) -- European Union Transport Commissioner Siim Kallas said Deutsche Bahn AG’s accounting practices are “unacceptable” and need to be changed, Financial Times Deutschland reported, citing an interview.

Because all subsidiaries transfer profits to the holding company, which then redistributes the money, “nobody really knows today if there is an unfair cross-subsidization of the transport business with money from the infrastructure side, and therefore ultimately from the government,” Kallas was quoted as saying.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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