(by Bruce Lyons) The European Commission last week agreed legally binding commitments by Siemens and Areva to reduce the product scope and duration of their excessive non-compete clauses. This follows the break-up of their nuclear technology joint venture. Some of these clauses had been for 11 years from the break-up and others encompassed markets in which the JV did not even have its own products. The settlement struck down the latter and reduced the duration of others to a maximum of three years.
This comes exactly two years after I wrote a blog on this case which is fascinating for its economic and political intrigue. Meanwhile, the tragic tsunami in Japan (March 2011) has fundamentally changed the medium-term prospects for nuclear power. I can only wonder how this decline in nuclear prospects may have affected the urgency and terms of settlement.