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Alstom, Siemens in advanced rail tie-up talks - Le Monde

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Alstom, Siemens in advanced rail tie-up talks - Le Monde

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PARIS (Reuters) – German engineering giant Siemens <SIEGn.DE> is in advanced talks to combine its rail activities with France’s Alstom <ALSO.PA> in a deal that could be announced on Sept. 26, Le Monde reported on Friday. Siemens would contribute rail assets valued at 7 billion euros (£6.19 billion) in return for 45-50 percent stake in Alstom under the deal being studied, the French daily said, citing unnamed sources. Siemens and Alstom both declined to comment. The proposed tie-up is also being discussed between French President Emmanuel Macron’s staff and their German counterparts in Angela Merkel’s chancellery, Le Monde reported. Siemens has held tie-up talks with both Alstom and Canada’s Bombardier <BBDb.TO> and had been expected to pick a preferred partner for detailed negotiations, a person familiar with the matter told Reuters on Thursday.

(Reporting by Laurence Frost; Editing by Luke Baker)
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