FRANKFURT Nov 29 Siemens AG is
paying for its 1.74 billion pound ($2.8 billion) acquisition of
Invensys' rail business out of existing liquidity, the
Infrastructure & Cities division's finance chief said.
"Siemens will not take on any external debt as part of this
deal," Hannes Apitzsch told journalists and analysts during a
conference call on Thursday.
The deal, announced late on Wednesday, vaults Siemens well
ahead of rivals in rail signalling, with a 17 percent market
share, almost double the closest rivals Alstom and
Siemens had almost 11 billion euros ($14.2 billion) of cash
at the end of September.