FILE PHOTO: A scale model of an AGV high speed train with the logo of Alstom is seen before a news conference to present the company’s full year 2016/17 annual results in Saint-Ouen, near Paris, France, May 4, 2017. REUTERS/Gonzalo Fuentes/File Photo

PARIS (Reuters) – French transport infrastructure group Alstom (ALSO.PA) said it was making progress on its planned tie-up with Germany’s Siemens (SIEGn.DE), as the pair fight to win over regulators concerned that the deal could stifle competition in the sector.

“The proposed combination of Alstom with Siemens Mobility, including its rail traction drive business, has progressed in the last quarter,” Alstom said on Thursday, adding that both companies had presented proposals to win over regulators.

“The proposed remedies include mainly signaling activities as well as rolling stock products and represent around four percent of the sales of the combined entity. The parties consider that the proposed remedy package is appropriated adequate,” added Alstom.

Reporting by Sudip Kar-Gupta; Editing by Himani Sarkar


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