Bombardier Ends Talks With Russia's Transmashholding

September 26, 2008 7:13 p.m. EST

Montreal, Quebec (AHN) - Canadian transport giant Bombardier has ended negotiations to buy a stake in Russian railway locomotive manufacturer Transmashholding.

The Star confirmed in their report that the Canadian conglomerate has pulled out of talks with the Russian firm, but did not disclosed the specifics of the negotiation.

TransMashHolding may now start discussions with engineering majors Siemens of Germany and Alstom of France, it added.

Talks between the Russian company and Bombardier, the world's largest supplier of rail equipment, began the end of last year.

Transmashholding is part of Dutch Breakers Investments, which is owned by Iskander Makhmudov, Andrey Bokarev, TransGrupp AS and Russian Railways.