Alstom denies EU challenge to Siemens deal

10th February 2005, Comments 0 comments

PARIS, Feb 10 (AFP) - The French industrial group Alstom denied a German newspaper report Thursday that it had gone to the European Union's executive commission to challenge a bid by German rival Siemens to acquire VA Tech of Austria.

PARIS, Feb 10 (AFP) - The French industrial group Alstom denied a German newspaper report Thursday that it had gone to the European Union's executive commission to challenge a bid by German rival Siemens to acquire VA Tech of Austria.

"We deny having taken a case to the commission," an Alstom spokesman told AFP.

"We have no conflict with Siemens. We simply responded to a questionnaire from the commission, at its request, in the framework of a consultative procedure, which is standard practice in merger or acquisition plans."

The German newspaper Handelsblatt earlier Thursday reported that Alstom had lodged a complaint with the European Commission against the deal.

German group SMS has similarly complained to the European competition authorities, arguing the takeover would give Siemens a 60-percent share in the European market for water-powered electricity generators, the newspaper said.

Sources in Brussels on Tuesday said the commission had launched an inquiry into Siemens' takeover plans, suggesting that the panel could order it to sell off certain businesses before the VA Tech deal were approved.

© AFP

Subject: French News

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