Alstom ready to sell assets to win EU okay for Bombardier deal - sources
Reuters
Published Jul 02, 2020 11:32
BRUSSELS (Reuters) - French TGV high-speed train maker Alstom (PA:ALSO) is prepared to offload assets to secure early EU antitrust approval for its bid for Bombardier Inc 's (TO:BBDb) rail division, people familiar with the matter said.
The companies believe they have a strong case with few overlapping activities even if EU antitrust regulators are not convinced by the concessions and instead opt to open a four-month long investigation, the people said.
Alstom wants to create the world's No. 2 train manufacturer with the takeover to compete better with Chinese leader CRRC Corp (SS:601766), marking its second attempt at a deal a year after the European Commission blocked its planned merger with Siemens (DE:SIEGn).
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Written By: Reuters
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