* Hitachi exec calls Mitsubishi Heavy-Siemens joint bid
* Nikkei says three-way bid would be worth $9.8 bln, exclude
* Mitsubishi Heavy, Hitachi have combined their thermal
(Updates with confirmation by Hitachi executive; 1 trillion yen
deal value in Nikkei report)
TOKYO, June 12 Hitachi Ltd said it
hopes to join Mitsubishi Heavy Industries Ltd and
Siemens AG in their joint bid for Alstom SA's
energy assets, which the Nikkei newspaper said would
be worth 1 trillion yen ($9.80 billion).
A three-party bid would give the group greater financial
firepower and flexibility to counter a rival $17 billion bid for
the French company's power business by General Electric Co
Hitachi and Mitsubishi Heavy are no strangers to each other.
They merged their thermal power businesses at the start of this
"Mitsubishi Heavy is our partner. We want to work together
with them," Katsumi Nagasawa, head of Hitachi's power systems
group, told a briefing on Hitachi's business on Thursday. He
said the joint Siemens-Mitsubishi Heavy bid was "great news".
The Nikkei said earlier on Thursday that the two Japanese
companies would set up a joint venture to bid for Alstom's steam
turbine operations, which it said would be valued at 500 billion
yen ($4.90 billion).
Mitsubishi Heavy would hold 65 percent and Hitachi 35
percent of the venture, matching the shareholdings in their
existing thermal power partnership, the paper added.
Siemens is expected to offer 500 billion yen for Alstom's
gas turbine business, while Alstom's power grid business would
be excluded from the deal, the Nikkei said.
($1 = 102.0500 Japanese Yen)
(Reporting by Reiji Murai; Writing by Edmund Klamann; Editing
by Chris Gallagher and Ryan Woo)