Europe kills Siemens’ plan to create the Airbus of trains

London (CNN Business)The European Union has blocked a merger by Siemens and Alstom that would have created the train equivalent of aviation powerhouse Airbus. Siemens (SIEGY) and Alstom (ALSMY) had argued that joining forces was necessary to achieve the scale needed to compete with companies from China. A similar structure helps Airbus (EADSF) compete with US rival Boeing (BA). Siemens CEO Joe Kaeser said the decision showed that Europe “urgently needs structural reform in the way it shapes its industrial future.” “Protecting customer interests locally must not mean that Europe cannot be on a level playing field with leading nations like China, the United States and others,” he said. Alstom said in a statement that it regretted the decision. The …