May 7, 2019 / 6:33 PM / 2 months ago

Siemens has options and time for rail ops: CEO

MUNICH (Reuters) - Industrial conglomerate Siemens is not under pressure to present alternative options for its rail unit Siemens Mobility after plans to merge it with French peer Alstom failed earlier this year, Chief Executive Joe Kaeser said.

“There is no need to rush anything on Mobility,” he told reporters on Tuesday in a telephone conference discussing Siemens’ planned spin-off of its Gas and Power unit.

“Mobility will be strengthened as a growth business. We have first class options and plenty of time,” Kaeser said, adding that the company had already looked at options, but they did not work out so far.

EU anti-trust regulators in February rejected the Alstom-Siemens deal, saying that it would have hurt competition and led to higher prices for consumers, despite concessions offered by the companies.

Reporting by John Revill; Writing by Arno Schuetze

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