(Benjamin Kang Lim and Matthew Miller – Reuters)
China’s top two trainmakers have been in discussions with Bombardier Inc. about possibly buying a controlling stake in the Canadian company’s railway unit, two sources with direct knowledge of the matter said.
China CNR Corp Ltd and state-owned CSR Corp Ltd, now in the process of merging to create the world’s biggest railway company, are exploring a stake purchase of the Bombardier unit, complementing China’s plan to sell its high-speed rail technology abroad, the sources said.
But discussions cannot move forward until after the Chinese trainmakers complete a planned $26-billion merger next month, said a person close to one of the Chinese companies. Click here to read more.