Bombardier looks to raise cash from rail business

London

BOMBARDIER is exploring ways to raise money from its transportation unit, potentially worth up to US$5 billion, as the Canadian group grapples with huge cost overruns in its aircraft business, six sources familiar with the matter said.

The world's largest manufacturer of planes and trains is working with banks on strategic options for its transportation arm, which provides rail vehicles, signalling and control equipment, the sources said on Friday.