EU to Approve GE-Alstom Acquisition

European Commission is set to approve GE’s acquisition of French company Alstom for the sum of €12.35bn, reports Agence France-Presse.

A source close to the matter said the European Competition Commissioner Margrethe Vestager will hold a press conference later today to make the announcement, following the weekly European Commission meeting.

The EU was concerned about the possibility of the rise of high-power gas turbine prices is the acquisition is approved.

The deal has already been accepted by both companies and by the French government.