Siemens and Alstom announce merger to form 'European champion'

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Germany's Siemens makes the inter-city ICE trains, while Alstom builds the French equivalent, TGV trains, and have combined sales of €15.3bn.

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Germany's Siemens has confirmed that it will merge its rail operations with France's Alstom to create "a new European champion in the rail industry", reports City AM.