February 6, 2019 / 11:14 AM / 2 months ago

Siemens regrets European decision to block rail merger with Alstom

FILE PHOTO - Siemens CEO Joe Kaeser attends a news conference ahead of the company's annual shareholders meeting in Munich, Germany, January 30, 2019. REUTERS/Michael Dalder

ZURICH (Reuters) - Siemens said it regretted the European Commission’s decision to block the merger of its rail business with France’s Alstom and would now assess “all options” for the future of its own train operations.

“We take note of a decision that has brought an end to a European landmark transaction,” Siemens Chief Executive Joe Kaeser said in a statement.

“While not unexpected, it proves that Europe urgently needs structural reform in the way it shapes its industrial future in a globally connected world,” he added.

Reporting by John Revill; Editing by Michael Shields

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