BELFORT, France -(Dow Jones)- German conglomerate Siemens AG (NYSE:SI) (SI) isn't an obstacle to a possible merger of French nuclear group Areva (Euronext:CEI) (CEI.FR) and French power and transport engineering firm Alstom (Euronext:1022047) (1022047.FR), Alstom's Chief Executive Patrick Kron said Wednesday.
Siemens owns a 34% of stake in Areva's nuclear reactor unit Areva NP.
Speaking to journalists on a press trip, Kron also said a merger with Areva wouldn't break European Union regulations. He said he expects industrial and financial synergies in a merger and Alstom has the means to go through with it.
The French government, which controls most of Areva's capital, is currently considering an overhaul of the group. One possible option is the merger of Areva and Alstom, of which French building to broadcasting conglomerate Bouygues SA (Euronext:12050) ( 12050.FR) is the largest shareholder.
-By Jocelyn Jovene and Nathalie Boschat, Dow Jones Newswires; +33 1 4017 1740; jocelyn.jovene@dowjones.com nathalie.boschat@dowjones.com
(END) Dow Jones Newswires 06-18-08 0806 Copyright (c) 2008 Dow Jones & Company, Inc.
