Skip to content
Subscriber Only

Siemens-Alstom's European Champion Deal Blocked by EU

  • French and German political pressure failed to sway EU
  • Train firms had argued deal was needed to combat Chinese rival
Video player cover image
EU Competition Commissioner Margrethe Vestager says Siemens and Alstom can restructure their proposed deal.Daybreak: Americas." (Source: Bloomberg)
Updated on

Siemens AG and Alstom SA’s plan to merge into a world-conquering European rail champion was blocked by the region’s antitrust regulators who refused to cave in to warnings about the looming threat of Chinese competition.

Margrethe Vestager, the European Union’s antitrust chief, said the duo could have won her blessing had they offered to sell enough assets to allay competition concerns. She didn’t buy into their argument of rail rivalry from Asia, saying "the Chinese are nowhere" in Europe and "literally have no presence here."