Green light for rail deal

Bondholder Bombardier's merger deal, valued at more than six billion euros, with French company Alstom has received the green light, subject to EU conditions.

The combined Bombardier/Alstom business will create the world’s second largest train manufacturer, with the capacity to take on the top manufacturer, China’s CRRC Corp, and preserves a joint bid with Hitachi for the £2.75 billion contract to build new high-speed trains for HS2.

Daniel Desjardins, chairman of Bombardier Transportation, said: “The decision marks a positive step for the growth opportunities of the European rail sector, which is a world leader thanks to strong domestic competition and commitment to the next generation of green and digital mobility solutions.”