June 11, 2014 / 11:52 AM / 4 years ago

Siemens says teams up with Mitsubishi on Alstom bid plans

FRANKFURT, June 11 (Reuters) - German conglomerate Siemens has teamed up with Japan’s Mitsubishi Heavy Industries to look at a potential proposal for Alstom assets, the German company said on Wednesday.

Siemens said it and Mitsubishi would make a decision on the submission of a proposal to Alstom’s board of directors by June 16.

“We firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France,” Mitsubishi Heavy CEO Shunishi Miyanaga said in a statement.

Reporting by Victoria Bryan

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