Home news Alstom and Siemens set to merge rail assets, reports say

Alstom and Siemens set to merge rail assets, reports say

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France’s Alstom and Germany’s Siemens are poised to announce a merger of their rail assets, media reports say.The proposed tie-up of the two engineering giants would create a kind of Airbus of the railways, analysts say.Siemens makes the inter-city ICE trains that run on German long-distance routes, while Alstom makes the French equivalent, the TGV.Shares in both companies have been volatile in anticipation of a deal.Some French politicians have expressed concerns that the deal could give the German company the upper hand.The French government owns about 20% of Alstom.Siemens Mobility is likely to become part of Alstom, with Siemens would hold 50% plus one share. However, the chief executive of the combined business is expected to be Alstom’s boss, Henri-Poupart Lafarge.
Source: BBC