COMMISSION CLEARS ALSTOM'S TAKEOVER OF FIAT FERROVIARIA.
Air Conditioning, Heating & Refrigeration News, September, 2000
The European Commission said on 19 September that it had authorised the acquisition of Fiat Ferroviaria, the railway transport subsidiary of Fiat SpA, by French engineering company Alstom. Through the takeover, it said in a statement, Alstom will get in-house tilting train technology and a foothold in the Italian railway market where so far it had been rather unsuccessful in winning any public procurement bids.
The takeover leads to competitive overlaps for main-line, regional and local trains as well as for certain components. The only product market where Alstom's and Fiat Ferroviaria's interests would theoretically lead to high market shares is main-line trains, particularly in Great Britain and Spain. However, on both markets the parties had won the relevant...
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