February 6, 2019 / 12:17 PM / 8 months ago

Alstom regrets EU veto on Siemens deal, will focus on growth

PARIS, Feb 6 (Reuters) - French rail manufacturer Alstom said it regretted the European Union’s decision to block its planned deal with Siemens and added it would focus on its own strategy to grow.

“This is a clear set-back for industry in Europe. Alstom, together with Siemens, is convinced that the transaction would have created substantial value for the global mobility sector, the European railway industry, customers, travellers and commuters, without harming European competition,” it said.

“Alstom will now project itself into a new future and define a strategic roadmap including appropriate capital allocation,” Alstom said in a statement. (Reporting by Sudip Kar-Gupta; editing by Jason Neely)

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