Durch die am 1. Januar 1999 in Kraft getretene „2. Stufe Bahnreform" wurden die bisherigen Geschäftsbereiche der Deutschen Bahn AG (Fernverkehr, Nahverkehr, Netz, Güterverkehr und Personenbahnhöfe), nach § 2 DBGrG ausgegliedert und bilden nunmehrals die DB Reise & Touristik AG, DB Regio AG, DB Netz AG, DB Cargo AG und DB Station & Service AG rechtlich selbständige Aktiengesellschaften. Die rechtliche Ausgliederung und Eintragung ins Handelsregister erfolgt am 1. Juni 1999. Als Holding oder Muttergesellschaft bleibt die Deutsche Bahn-AG nach der Ausgliederung erhalten. Sie hält 100 Prozent an den sogenannten „Führungsgesellschaften".%On 1st January 1999 the second stage of the railway system's reform programme was introduced. This has led to the establishment of the Deutsche "Bahn AG divisions covering longhau'l and shorthaul operations, freight transport, the rail track network and stations as well as customer care/service, as independent business units. This is in line with the EC guidelines 91/440, 95/19, and rule 1893/1. In this study, the author presents a review of this new situation, by analysing the impact of the European Union's rules of competition on the new divisions of the DB AG. He deals with the decision making process within the EC and the exemption granted for company mergers in the rail sector, in line with articles 85 and 86 of the EGV. Also investigated is the fact that the intended liberalization of the rail sector can only be fully implemented if the EC abandons its restrictive attitude towards this exemption and facilitates moves towards co-operation between the new DB divisions and other rail operators, beyond Germany's borders.
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