Siemens to merge rail operations with French rival Alstom
Creation of European transportation giant is aimed at countering competition from China
Thu, Sep 28, 2017 - 5:50 AM
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.
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...