Siemens likely to pick Alstom for rail merger: Reuters
German industrial group Siemens is likely to decide this week to pursue a multi-billion dollar rail merger with French rival Alstom rather than Canada’s Bombardier, two sources familiar with the matter told Reuters. Siemens Mobility is expected to be merged into Alstom, in which Siemens would hold 50 percent-plus-one share, while the chief executive would be Alstom’s current boss Henri-Poupart Lafarge. The combined business would have sales of about 15 billion euros (US$18 billion). The decision would be a blow for planes-and-trains maker Bombardier, which faces a separate battle this week to protect aerospace jobs in Québec and Northern Ireland amid a subsidy row with Boeing. Caisse de dépôt et placement du Québec owns 30 percent of Bombardier’s rail business.
