Alstom Confirms Rail Merger Talks With Siemens - Update
By Nathan Allen
France's Alstom SA (ALO.FR) said Friday that it is in discussions with Siemens AG (SIE.XE) over a potential merger with the German company's mobility division, confirming recent press speculation.
"No final decision has been made, discussions are ongoing and no agreement has been reached," Alstom said.
Siemens confirmed talks about the potential rail-business combination with Alstom, but declined to add further details.
Siemens had previously been in talks with Canada's Bombardier Inc. (BBD.A.T) regarding a merger of their respective rail businesses.
The news comes after days of press speculation on a potential deal between Siemens and Alstom, which builds France's high-speed TGV trains.
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September 22, 2017 13:08 ET (17:08 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.