Siemens CEO to Antitrust Regulators: View Siemens-Alstom Merger in Global Context
By William Boston
BERLIN--Siemens AG (SIE.XE) Chief Executive Joe Kaeser on Wednesday urged antitrust regulators to view the merger of its rail business with French rival Alstom SA (ALO.FR) in the context of global competition.
Siemens and Alstom dominate the European rail industry, but on a global scale face tough competition. Asked about European regulators, Mr. Kaeser urged antitrust authorities to see the global picture.
"We have a global market and a global market follows global rules," Mr. Kaeser told analysts on a conference call. "We do not see any major issues on a global perspective. I hope that that view is going to be shared everywhere in the world and then we're going to be okay."
German electronics company Siemens on Tuesday agreed to merge its rail operations with French train maker Alstom, aiming to create a European transportation powerhouse with the scale to fight growing competitive threats from state-backed Chinese rivals.
Write to William Boston at William.Boston@wsj.com; @BerlinDiary
(END) Dow Jones Newswires
September 27, 2017 04:27 ET (08:27 GMT)