Germany and France Present Outline for EU Competition Changes
- Proposal comes after Brussels shot down Siemens-Alstom tie-up
- Plan addresses need for EU to contend with Chinese companies
European Union (EU) flags fly.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Germany, France and Poland are pushing plans to facilitate big mergers in the European Union, after the bloc shot down an intended tie-up this year between Siemens AG and Alstom SA to create a European champion to compete with China.
The European Commission should introduce “more flexibility” and “take into account competition at a global level” when it analyzes mergers, according to a joint paper from the three governments published on Thursday.