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