June 17 General Electric Co and Alstom SA
have agreed on a tentative value for GE's train
signaling unit, the Wall Street Journal reported, citing people
familiar with the matter.
The move comes as GE tries to counter a joint proposal by
Siemens and Mitsubishi Heavy Industries for
Alstom's energy business.
The two companies have already held discussions, the Journal
reported, citing the people.
However, the people declined to elaborate on the potential
value, saying only that GE's business was slightly smaller than
Alstom's but more profitable, the paper reported. (r.reuters.com/hex22w)
The French government said last month that GE's offer to
take over Alstom's power and grid business was not acceptable as
it stood and had suggested a deal that would also combine the
two companies' rail businesses.
(Reporting By Abinaya Vijayaraghavan in Bangalore)