Mitsubishi and Siemens finalising counter bid for Alstom

The Japanese and German firms are bidding for the French group's energy branch against an existing $17 billion offer from General Electric.

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Germany's Siemens and Japan's Mitsubishi Heavy Industries are putting the finishing touches on a joint offer for Alstom's turbine businesses that includes a cash element of roughly 9 billion euros, sources close to the bidders said, reports Reuters.