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Banking

Exclusive: Hitachi set to win EU okay for $1.8 bln Thales deal, sources say

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture taken September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsBRUSSELS, Oct 19 (Reuters) - Hitachi (6501.T) is set to win EU antitrust approval for its 1.7-billion-euro ($1.8 billion) acquisition of Thales' (TCFP.PA) GTS railway signalling business on the condition it sells assets in France and Germany, three people familiar with the matter said on Thursday.Hitachi submitted its offer to sell its mainline signalling business in France and Germany to the European Commission last...
Banking

Korean Air to offer to sell Asiana’s cargo business, routes to satisfy EU regulators -sources

The logo of Korean Airlines is seen on a B787-9 plane at its aviation shed in Incheon, South Korea, February 27, 2017. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsBRUSSELS, Oct 17 (Reuters) - South Korea's biggest carrier, Korean Air Lines (003490.KS), will offer to sell Asiana Airlines' (020560.KS) air cargo business and divest routes to four EU cities in a bid to gain EU antitrust approval for acquiring its rival, two people familiar with the matter said.The airline sector has seen a wave of consolidation recently, with Lufthansa (LHAG.DE) acquiring a...
Banking

Should new tech rules apply to Microsoft’s Bing, Apple’s iMessage, EU asks

A sign of Microsoft Corp's Bing search engine is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China September 21, 2018. Picture taken September 21, 2018. REUTERS/Stringer/File Photo Acquire Licensing RightsBRUSSELS, Oct 9 (Reuters) - EU antitrust regulators are asking Microsoft's (MSFT.O) users and rivals whether Bing should comply with new tough tech rules and also whether that should be the case for Apple's (AAPL.O) iMessage, people familiar with the matter said on Monday.The European Commission in September opened investigations to assess whether Microsoft's Bing, Edge and Microsoft...
Banking

Red Bull loses bid to suspend EU decision on antitrust raid

FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Oct 2 (Reuters) - Austrian energy drinks maker Red Bull has lost its bid to get Europe's second highest court to suspend an EU antitrust decision that underpinned a raid on the company for alleged anti-competitive practices.The European Commission raided the company in March on concerns that it may have violated EU antitrust rules against cartels and abuse of a dominant position.Red Bull subsequently challenged the raid...
Finance

EU court says $748 million Belgian tax scheme is illegal state aid

BRUSSELS, Sept 20 (Reuters) - European Union's second-top court on Wednesday backed an EU competition regulator's decision against a 700-million-euro ($748 million) Belgian tax scheme for 55 multinationals, in a major win for EU antitrust chief's crackdown on sweetheart tax deals.The Luxembourg-based General Court had in 2019 annulled Margrethe Vestager's decision after Belgium and about 30 of the companies challenged it.Beneficiaries of the Belgian scheme that dated from 2005 included U.S. manufacturer Magnetrol, oil company BP (BP.L), chemical producer BASF (BASFn.DE), Wabco, Cellio, Atlas Copco (ATCOa.ST) and Belgacom, now Proximus...
Banking

Hitachi seeks EU okay for Thales deal with asset sales in France, Germany

The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsBRUSSELS, Sept 18 (Reuters) - Hitachi (6501.T) has offered to sell assets in France and Germany in a bid to address EU antitrust concerns about its proposed 1.7 billion-euro ($1.8 billion) buy of Thales' (TCFP.PA) GTS railway signalling business, a Hitachi spokesperson said on Monday.The Japanese conglomerate submitted its remedy offer last week to the European Commission, which is expected to seek feedback from Hitachi customers and rivals before...
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