Clifford Chance

European champions: what now for EU merger control after Siemens/Alstom?

4 March 2020

In prohibiting the proposed tie-up of Siemens and Alstom, the European Commission unleashed a maelstrom of political discontent. Recognising that many European undertakings face unprecedented obstacles to growth, this article considers the merits of a modified version of the Franco-German proposal for a Council appeal mechanism that could afford Member States the necessary tool to address competitive imbalances persisting between the European Union and third countries.

A limited number of corrective measures at critical junctures might restore the mechanics of global trade to a state more in sync with certain background assumptions key to the Merger Regulation. Sentiments to this effect are already evident in recent remarks by Competition Commissioner Margrethe Vestager.

The authors are Alex Nourry, antitrust partner, Clifford Chance LLP and Dani Rabinowitz, antitrust associate, Clifford Chance LLP.

This article was first published by Thomson Reuters, trading as Sweet & Maxwell, 5 Canada Square, Canary Wharf, London, E14 5AQ in the European Competition Law Review as "European champions: what now for EU merger control after Siemens/Alstom?" [E.C.L.R. 2020, 41(3) 116- 124] and is reproduced by agreement with the publishers.

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