PARIS: Alstom said on Monday it wanted to buy Bombardier’s rail division in a deal that would help it compete with China while allowing indebted Bombar­dier to speed up an ongoing fire sale.

Alstom said talks about taking over Bombardier Trans­port were “ongoing”, with media reports putting the likely price tag at $7bn.

“No final decision has been taken,” Alstom said.

Analysts said the French company hopes to add scale in a sector where China’s state-owned CRCC is the world’s largest rolling stock manufacturer.

Alstom’s move comes a year after the EC blocked an attempt at a mega-merger of its rail activities with those of Germany’s Siemens.

Published in Dawn, February 18th, 2020