Siemens start-up wins approval after EU competition delay

An investment by Siemens, the German engineering giant, in a German start-up company is the latest private equity investment to be delayed by European competition rules.

The 10% stake in AeroLas, which has since been approved, would give Siemens joint control of the company. European competition rules require the referral of all mergers and takeovers where the combined turnover exceeds a certain level - a condition met by Siemens' turnover alone.

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