France’s Alstom and Germany’s Siemens have a deal ready to sign that would merge their rail businesses in the face of Chinese competition.
Alstom, which makes the French TGV high-speed train, confirmed Friday, September 22, that it was talking to Siemens about a possible railway tie-up, but said no decision had been taken.
German newspaper Handelsblatt however, citing “insiders” familiar with the deal, said Monday the two groups have overcome past reservations about a joint venture with a “balanced agreement acceptable to both sides.
But Siemens has also been courting Canadian firm Bombardier, whose European operations are based in Berlin, and the two companies have their own detailed plan for two joint ventures covering rolling stock and signalling.
The Munich-based group’s supervisory board is set to meet Tuesday to discuss the two options, Deutsche Wellet reported, while Alstom’s executive board will also meet.
Handelsblatt reported that European authorities were expected to green light the deal as it would create an EU-based champion on global markets. Advisers to German Chancellor Angela Merkel and French President Emmanuel Macron were involved in the talks, Le Monde reported.
Full Content: DW
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