Margrethe Vestager Strikes Again

The EU antitrust chief took a break from dropping fines on Zuck, Cook, & Co. to wage a battle closer to home—she blocked a pending rail merger between France’s Alstom and the transportation unit of German conglomerate Siemens.

And did you catch the reaction videos?

Here’s France and Germany...

Via Kilo Goodwin

There had been hopes this merger would create the “Airbus for rail,” a European transportation giant with an annual revenue of $17 billion. But the EU ruled a tie-up would reduce competition, raise prices, and harm consumers.

• Alstom said, “This is a clear setback for industry in Europe,” while some French and German authorities are pressuring the EU to revise its guidelines and allow more large cross-border deals.

Of course, it’s all about China: The railway execs warned a blocked merger would lead to China’s state-owned CRRC running them over like a freight train (it works).

Bottom line: Vestager thinks those fears are overblown, saying, “We don’t see the Chinese coming. The Chinese are nowhere, not at all in Europe."