Sep 26, 2017

Alstom and Siemens set to merge rail assets, reports say

France's Alstom and Germany's Siemens are poised to announce a merger of their rail assets, media reports 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. Siemens Mobility is likely to become part of Alstom, with Siemens would hold 50% plus one share. The chief executive of the combined business is expected to be Alstom's boss, Henri-Poupart Lafarge.

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