Germany on Siemens/Alstom merger plan - Back stronger global competition rules

German Economy Minister Peter Altmaier presents the national industry strategy for 2030 during a news conference in Berlin, Germany, February 5, 2019. REUTERS/Fabrizio Bensch - Copyright FABRIZIO BENSCH(Reuters)

By Reuters

Published on 05/02/2019 - 13:04•Updated 19/04/2024 - 12:23

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BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Tuesday that he did not favour getting ministerial approval for deals such as the proposal to merge Siemens and Alstom's rail businesses to better compete in Europe and abroad.

Altmaier said he was in favour of strengthening competition rules for the global market.

European Commission President Jean-Claude Juncker said on Tuesday the EU executive was not needlessly blocking corporate mergers, a comment seemingly aimed at complaints in France and Germany over its expected rejection of the Siemens/Alstom rail merger.

(Reporting by Reinhard Becker; Writing by Michelle Martin; Editing by Madeline Chambers)

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