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Germany on Siemens/Alstom merger plan: Back stronger global competition rules

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Reuters BERLIN
Last Updated : Feb 05 2019 | 4:45 PM IST

BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Tuesday that he did not favour getting ministerial approval for deals such as the proposal to merge Siemens and Alstom's rail businesses to better compete in Europe and abroad.

Altmaier said he was in favour of strengthening competition rules for the global market.

European Commission President Jean-Claude Juncker said on Tuesday the EU executive was not needlessly blocking corporate mergers, a comment seemingly aimed at complaints in France and Germany over its expected rejection of the Siemens/Alstom rail merger.

(Reporting by Reinhard Becker; Writing by Michelle Martin; Editing by Madeline Chambers)

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First Published: Feb 05 2019 | 4:39 PM IST

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