Siemens, Bombardier Close to Deal to combine rail operations (NY Times)

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Canada’s Bombardier and Germany’s Siemens are in the final stages of talks to combine their rail operations, several sources familiar with the matter said on Friday, in a deal that would give the two added heft to compete against Chinese rail giant CRRC.

The deal, which would create two separate joint ventures for their signalling and rolling-stock divisions, could be announced as early as August, the sources said…

One source said Bombardier and Siemens would have to sell off some rolling stock, such as some high-speed trains operations, to address the antitrust concerns. Bombardier, Siemens and French rival Alstom have talked to each other about combining their businesses in various arrangements over the past years. This would be the third attempt by Siemens and Bombardier, one of the people said.

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Written by Long Branch Mike