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Alstom plans to take over Bombardier rail division
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
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