EU Commission approves Siemens' buy of Invensys rail signals unit

Thu Apr 18, 2013 10:21am EDT
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BRUSSELS, April 18 (Reuters) - The European Commission gave approval on Thursday for German conglomerate Siemens' 1.74 billion pound ($2.65 billion) acquisition of the rail signal business of Invensys.

An investigation of the deal showed the combined group would still face strong competition from rivals such as Thales , Alstom, Bombardier and Ansaldo , the Commission said in a statement.

It had no competition concerns because in addition to the strong competition in the sector, "customers of railway signalling projects and products have significant buyer power".