April 18, 2013 / 2:23 PM / 5 years ago

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”.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below