Toshiba wants to buy Alstom power grid business from GE: Nikkei

Wed May 7, 2014 3:03pm EDT

A logo of Toshiba Corp is seen atop of the company headquarters in Tokyo January 31, 2013. REUTERS/Shohei Miyano

A logo of Toshiba Corp is seen atop of the company headquarters in Tokyo January 31, 2013.

Credit: Reuters/Shohei Miyano

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(Reuters) - Toshiba Corp (6502.T) will offer to buy Alstom's (ALSO.PA) power grid business for "several hundred billion yen" if General Electric Co (GE.N) completes its planned purchase of Alstom's energy business, the Nikkei newspaper reported.

GE has offered to buy Alstom's energy business, which makes power generation systems along with power grids, for about $16.9 billion.

The French company said last week it was reviewing GE's offer but has also given Germany's Siemens AG (SIEGn.DE) until the end of May to make a rival bid.

A spokesman for GE declined to comment on the Nikkei story.

(Reporting by Ankit Ajmera in Bangalore; Editing by Saumyadeb Chakrabarty)

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