Siemens offers cash, trains swap for Alstom power: report

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Siemens offers cash, trains swap for Alstom power: report

German engineering group Siemens is offering Alstom half of its train-making business plus cash in exchange for its French rival's power turbines division, Le Figaro newspaper reported on Sunday. Le Figaro said it had seen the contents of a letter - the existence of which was announced by Siemens earlier on Sunday - in which the German company offered a potential alternative to the deal U.S. company General Electric was preparing to negotiate with Alstom. The Siemens deal outlined by Le Figaro has similarities to past plans to combine the businesses. The paper said the offer was informal, but detailed, and included a proposal for Alstom - maker of TGV high-speed trains - to take on Siemens' high-speed trains and locomotives arm, but not its metropolitan trains division.

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