China’s CRRC drops bid for Lisbon metro deal as EU finds ‘billions’ in subsidies probe

Chinese railway giant CRRC has been forced out of a Lisbon metro contract in favour of a Polish firm, after a European Commission investigation found that foreign subsidies allowed CRRC to underbid rivals. “The in-depth investigation confirmed these preliminary findings, revealing that the subsidies in question had indeed given the consortium an unfair competitive edge, to the detriment of other bidders taking part in the tender and the integrity of the EU’s internal market,” the European...