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Company News

Alstom ready to sell assets to win EU okay for Bombardier deal - sources

BRUSSELS, July 2 (Reuters) - French TGV high-speed train maker Alstom is prepared to offload assets to secure early EU antitrust approval for its bid for Bombardier Inc’s 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, marking its second attempt at a deal a year after the European Commission blocked its planned merger with Siemens. (Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

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