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Siemens shares hit fresh record after report of Bombardier rail talks

Published 11/04/2017, 14:50
Updated 11/04/2017, 15:00
© Reuters. Siemens AG logo is seen during official opening of headquarters in Munich
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MILAN (Reuters) - Shares in Siemens (DE:SIEGn) spiked higher to hit a fresh record high after a Bloomberg report said the German industrial giant and Bombardier (TO:BBDb) are in talks to combine their train operations.

People familiar with the matter cited by the news agency said the possible venture would merge their train-making and signalling activities valued at more than 10 billion euros (8.52 billion pounds).

A Milan based trader said the deal appeared to make strategic sense, noting that Bombardier is the only player not integrated while Siemens has already an integrated offer.

© Reuters. Siemens AG logo is seen during official opening of headquarters in Munich

Siemens declined to comment.

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