Siemens, Alstom consider tie-up backed by German gov.
Date
5/11/2014 5:40:01 AM
(MENAFN) A spokesman of the German government said that the government supports a tie-up between engineering firm Siemens and Alstom, its French rival, if the corporate decision makers decide that it would make sense, Gulf News reported.
Alstom, which makes power generation and transmission systems as well as trains and trams, is currently reviewing a USD16.9 billion binding bid by US giant General Electric for the energy activities that make up the bulk of its business.
Alstom said although it was reviewing GE's offer, but wouldn't mind if Siemens came forward with proposals by the end of the month. The French government had previously noted it would prefer such a Franco-German tie-up.
"That option might have been discussed (between French and German officials) but the likelihood of seeing it happen is close to zero," said one source familiar with the situation.
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