Alstom in talks to acquire Bombardier’s rail business

French train manufacturer Alstom says it is in discussions with transportation giant Bombardier over a possible acquisition deal.

Reports suggest the potential deal for Bombardier’s rail business could be worth over £5 billion.

Bombardier, which is headquartered in Canada, has a huge manufacturing facility at Derby and is one the city’s biggest employers.

Should the deal be completed, Bombardier will reportedly look to change its focus to the production of aircraft.

Alstom, which makes the TGV high-speed train model amongst others, attempted to merge with Siemens Mobility in 2017 in what would have been a landmark deal for the European rail industry, but the agreement was blocked by the European Commission.

In a statement, the multinational firm said: “Discussions are on-going. No final decision has been made. Alstom will inform the public of any material developments in this respect.”