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German cartel office: a Siemens Alstom deal would face EU scrutiny
May 28, 2014 / 8:03 AM / in 4 years

German cartel office: a Siemens Alstom deal would face EU scrutiny

DUESSELDORF, May 28 (Reuters) - Any deal to combine the power assets of engineering companies Siemens and Alstom would face regulatory scrutiny from European Union antitrust authorities, Andreas Mundt, president of the German cartel office said.

Siemens told French lawmakers yesterday that it hoped to submit an asset swap offer which would hand the German engineering company most of Alstom’s power assets in exchange for giving up control of its trains business.

“This would certainly be a case for the Commission,” Mundt told the Duesseldorf Economic Publisher’s Association late on Tuesday in remarks embargoed for Wednesday.

As a rule of thumb, E.U. antitrust authorities get involved in any deal involving companies with combined revenues of more than 5 billion euros ($6.8 billion), Mundt said. ($1 = 0.7345 Euros) (Reporting by Tom Kaeckenhoff; Writing by Edward Taylor; Editing by Victoria Bryan)

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