FRANKFURT, July 21: French President Nicolas Sarkozy plans to make use of an option to buy out Germany’s Siemens stake in its joint venture with state-controlled nuclear group Areva and forge a major national energy company, a German magazine reported.

Sarkozy wants to merge Areva with industrial group Alstom and conglomerate Bouygues, WirtschaftsWoche reported, citing company sources in a preview of story to be published on Monday.

Alstom’s chief executive Patrick Korn is tipped to head the new company, the report said.

A French government official who declined to be named said the presidency had no comment on the report. Siemens was not immediately available for comment.—Reuters