More than three weeks since GE’s $17bn bid for Alstom emerged, Reuters claimed the German industrial giant will soon propose an alternative asset-swap that will see its own rail interests pass to Alstom and the energy operations come the other way.

Citing sources close to the discussions, the news agency said one possibility being discussed is for Siemens to sell-on Alstom’s wind and nuclear operations to Areva to allay French government fears over foreign ownership of strategic energy assets.

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