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Siemens to merge rail operations with French rival Alstom
Creation of European transportation giant is aimed at countering competition from China
Years of bitter rivalry between Alstom and Siemens created animosity in the past so a deal between them was unexpected until last week, when Bloomberg reported talks.
PHOTO: BLOOMBERG
Munich
SIEMENS AG and Alstom SA agreed to merge their rail businesses in a deal that brings together former arch-rivals from Germany and France to create a European transportation giant aimed at countering competition from China.
Siemens will transfer its business making train and...
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