31 iulie 2020

All aboard: EU approves Alstom's purchase of Bombardier rail unit


The European Commission gave French engineering giant Alstom the green light to buy Canadian train-maker Bombardier Transport on Friday, a year-and-a-half after blocking a mega-merger with Germany's Siemens.Paris and Berlin were infuriated when Brussels blocked the former plan to build an all European giant but the Canadian tie-up should now go ahead -- with conditions. Alstom will have to divest itself of some of its plants, but the new entity could still be of a scale to compete with the [...]