Siemens, Bombardier Close to Deal on Transportation Tie-Up - Reuters
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
Canada's Bombardier (BBDb.TO) and Germany's Siemens (SIEGn.DE) are in the final stages of talks to combine their rail operations in a deal that would give the two added heft to compete against Chinese rail giant CRRC (601766.SS), several sources familiar with the matter said on Friday.
The deal, which would create two separate joint ventures for the companies' signaling and rolling-stock divisions, could be announced as early as August, they added.
Bombardier and Siemens declined to comment.
Siemens' supervisory board will discuss the matter at its meeting on August 2, while Bombardier's board is expected to look at it next week, they said, adding that an announcement of the deal could come in early August.