German engineering group Siemens and Canada’s Bombardier are in early talks to merge their rail businesses, The Wall Street Journal reported on Wednesday, citing people familiar with the matter
The paper said Bombardier was also in talks with other possible partners.
Both Siemens and Bombardier declined to comment on the report.
The news comes some months after Siemens downplayed the idea that it could combine its rail assets, which include trains, trams and signaling technology, with those of France’s Alstom.
Bombardier outlined plans in May to list a minority stake in its rail unit, headquartered in Germany, as the train making sector consolidates to compete on major rail infrastructure projects across the globe.
A merger with peers such as Germany’s Siemens or France’s Alstom could also be considered, sources familiar with the matter said at the time.