EU Commission approves Siemens' buy of Invensys rail signals unit
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".
© Thomson Reuters 2016 All rights reserved.