February 6, 2019 / 3:25 PM / 5 months ago

Germany will seek EU competition law reform during 2020 EU presidency-source

BERLIN, Feb 6 (Reuters) - The German government will seek a reform of EU competition law during its presidency of the European Union in the second half of 2020, a government source told Reuters on Wednesday.

The initiative would follow on from the collapse on Wednesday of Siemens and Alstom’s plan to create a European rail champion after EU antitrust regulators rejected the deal, saying it would have hurt competition and led to higher prices for consumers.

German Economy Minister Peter Altmaier said on Wednesday that Europe should look at changing its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States. (Reporting by Andreas Rinke Writing by Michelle Martin Editing by Paul Carrel)

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