The European Commission (EC) has prohibited the proposed merger of the Siemens and Alstom mobility businesses, so the merger will not proceed.

Alstom (www.alstom.com) said it regrets that the “remedies offered” with regard to its European competitors, including recent improvements, have been considered insufficient by the Commission.

“The remedies were extensive in scope and addressed all the concerns raised by the Commission in respect of signalling and very-high-speed trains.

“In addition, a number of credible and well-established European players expressed strong interest for the remedy package, thereby fully confirming its viability”.

Alstom and Siemens say they are convinced that the transaction would have created substantial value for the global
mobility sector, the European railway industry, customers, travellers and commuters, without harming European competition.

They also say it would have allowed the creation of a European player with the ability to cope with the growing competition from non-EU companies.

Alstom said it will now focus on pursuing its growth path as a global leader in the mobility sector, supported by excellent business fundamentals that include: a global footprint, a record order book worth 40 billion euros, sales constantly out-performing market growth, and a very solid balance sheet.