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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  CRRC Corp Ltd    601766   CNE100000CP9

CRRC CORP LTD (601766)
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EU to rule on Siemens-Alstom rail deal by July 13

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06/08/2018 | 06:41pm CEST
The logo of Alstom is seen before a news conference to present the company's full year 2016/17 annual results in Saint-Ouen

BRUSSELS (Reuters) - German industrial group Siemens AG and French rival Alstom SA will know by July 13 whether they can secure EU antitrust approval for the planned merger of their rail businesses to compete better with China's CRRC Corp.

The European Commission set the deadline after the companies sought approval on Friday. The EU competition watchdog can approve the deal with or without concessions, or it can open a four-month investigation if it has serious concerns.

Siemens and Alstom announced the deal last September, potentially bringing the French TGV and German ICE high-speed trains as well as signalling and rail technology under one roof, and the companies have since been engaged in informal talks with the Commission.

While the deal is seen as a Franco-German industrial breakthrough for French President Emmanuel Macron, it has angered opposition politicians and trade unions worried about job losses.

(Reporting by Foo Yun Chee; Editing by David Goodman)

Stocks mentioned in the article
ChangeLast1st jan.
ALSTOM -0.21% 37.57 Real-time Quote.8.80%
CRRC CORP LTD 1.61% 8.85 End-of-day quote.-26.42%
SIEMENS 0.36% 110.74 Delayed Quote.-5.00%
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Financials (CNY)
Sales 2018 229 B
EBIT 2018 17 718 M
Net income 2018 12 374 M
Finance 2018 16 735 M
Yield 2018 1,95%
P/E ratio 2018 20,74
P/E ratio 2019 17,85
EV / Sales 2018 0,99x
EV / Sales 2019 0,87x
Capitalization 244 B
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Mean consensus HOLD
Number of Analysts 20
Average target price 9,42  CNY
Spread / Average Target 5,7%
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Yong Cai Sun President & Executive Director
Hua Long Liu Chairman
Jun Wang Chairman-Supervisory Board
Yan Jing Zhan Chief Financial Officer & Vice President
Zong Xiang Xu Executive Director
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