Legality of power pact questioned
June 3, 2010, Thursday
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Print Edition
Print Edition
EUROPEAN Union regulators said yesterday they were investigating the legality of nuclear power deals between France's Areva and Germany's Siemens after Areva took over their joint venture.
This adds another twist to a row between the two companies after Siemens pulled out of the Areva NP unit, the world's largest builder of atomic power plants, and struck a deal with Russia's Rosatom to develop nuclear reactors.
The European Commission will now examine the legality of agreements and contracts between the two companies not to compete head to head after they both went their separate ways.
Areva complained last year that Siemens' new deal with Rosatom broke the terms of a 2001 non-competition clause.
Areva spokeswoman Patricia Marie said the EU would examine that agreement "more closely but it doesn't mean that the non-competition clause is illicit."
This adds another twist to a row between the two companies after Siemens pulled out of the Areva NP unit, the world's largest builder of atomic power plants, and struck a deal with Russia's Rosatom to develop nuclear reactors.
The European Commission will now examine the legality of agreements and contracts between the two companies not to compete head to head after they both went their separate ways.
Areva complained last year that Siemens' new deal with Rosatom broke the terms of a 2001 non-competition clause.
Areva spokeswoman Patricia Marie said the EU would examine that agreement "more closely but it doesn't mean that the non-competition clause is illicit."
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