BRUSSELS (Reuters) - European Union antitrust regulators have set a Feb. 23 deadline for a decision on whether to clear General Electric's (N:GE) planned purchase of most of French engineering group Alstom's (PA:ALSO) power equipment business.
The European Commission said on Tuesday the companies requested approval for their deal on Jan. 19. The EU competition watchdog can either approve the takeover unconditionally or demand concessions if it has concerns it may lead to higher prices.
U.S. conglomerate GE received the green light from French authorities for the deal in June last year after agreeing to create jobs and to form an energy joint venture with Alstom.
Paris also secured an option to take a stake of up to 20 percent in the French company.