April 7, 2011 / 2:41 AM / 9 years ago

Siemens could exit Rosatom nuclear venture - report

LONDON (Reuters) - Siemens (SIEGn.DE) is considering exiting an atomic power joint venture with Russia’s Rosatom after the nuclear crisis in Japan and mounting internal resistance, the Financial Times said on Thursday, citing unidentified sources.

The newspaper quoted a senior executive as saying the company is looking at a way out that would be “face-saving” for Russia and Siemens’ chief executive Peter Loescher.

The FT said a number of executives had privately doubted the viability and business prospects of the venture even before a massive earthquake and tsunami last month damaged Japan’s Fukushima Daiichi power plant.

“Fukushima will be an occasion to exit but not its reason,” the executive was quoted as saying.

Reporting by Karolina Tagaris

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