GE Reportedly Mulls Selling Train Signal Business To Alstom

(RTTNews) - U.S. conglomerate General Electric Co. (GE) is considering selling its train signaling business to Alstom SA in a bid to improve the appeal of its $17 billion offer for the French conglomerate's energy business and counter a joint proposal from German engineering giant Siemens AG and Japan's Mitsubishi Heavy Industries, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

Selling the signaling operations would help meet a demand expressed by France's President François Hollande that GE help beef up Alstom's train business in exchange for blessing GE's purchase of the iconic French engineering company, the Journal quoted the people as saying.

The two companies have held talks and agreed on a tentative value for GE's signaling unit, the people said, according to the Journal.