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Siemens seeks more Alstom data

Siemens has demanded more information from Alstom before making a bid for its energy assets, among other things about corruption investigations against Alstom in the US, Brazil and the UK, the Süddeutsche Zeitung newspaper says without indicating sources.

A Siemens official contacted by Recharge early Monday couldn’t immediately be reached for comment.

In order to carry out a proper risk assessment on Alstom, Siemens needs that information, which isn’t included in data currently available to the Munich-based company, the newspaper says. It adds that Alstom allegedly at the start of talks hasn’t been very cooperative with Siemens.

GE last week had given Alstom several more weeks to consider its $17bn bid for Alstom’s energy assets so that the French company has enough time to weigh up its proposal against a possible counter-bid from Siemens.

Siemens has written a letter outlining to Alstom “the axes of an alliance” in a possible bid, France’s industry minister revealed last week.

Alstom’s management so far has indicated its preference for GE, but said it was open to other bids, while France’s government has made clear that it prefers a bid from Siemens.

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