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EU launches competition probe into GE-Alstom deal

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EU competition regulators launched on Monday a probe into US group General Electric's planned 12.4-billion-euro (S$19.2 billion) acquisition of the energy business of French rival Alstom.

[BRUSSELS] EU competition regulators launched on Monday a probe into US group General Electric's planned 12.4-billion-euro (S$19.2 billion) acquisition of the energy business of French rival Alstom.

The European Commission said the deal would eliminate one of the three main competitors to GE in the market for heavy-duty gas turbines, potentially leading to higher prices and less choice for customers in the 28-nation bloc.

AFP

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