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Toshiba interested in Areva division

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Toshiba interested in Areva division

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Japan’s Toshiba is reportedly about to join the bidding for French nuclear group Areva’s power distribution and transmission equipment division.

That would put it in competition with French engineering groups Alstom and Schneider Electric who are planning a joint bid. Axa Private Equity is also looking at whether to make an offer. Toshiba’s shares fell after news broke of the planned bid.