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EU Reviews New Concessions Made By Siemens-Alstom In Proposed Rail Merger

German conglomerate Siemens AG (SIEGY.PK,SMAWF) and France's Alstom (AOMFF.PK,ALS.L) have made new concessions to the EU Commission regarding the planned merger of their rail activities.

Reuters reported, citing EU Competition Commissioner Margrethe Vestager, that the EU is reviewing these last-minute concessions made by Alstom and Siemens aimed at winning the approval.

However, the changes were submitted on Day 110 of the process, which was way, way over the usual deadline, Vestager noted.

Meanwhile, France's Economy and Finance Minister Bruno Le Maire, confirming the mews of new concessions by the companies, said that EU would make an economic error and political mistake if it were to veto the proposed merger.

The German and French companies reportedly have offered the sale of several business units in the field of signal technology as well as extended licensing agreements.

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