Siemens board OKs merging Siemens Rolling Stock

MUMBAI: Siemens Ltd said on Monday its board has approved merging a unit, Siemens Rolling Stock Pvt Ltd, with itself. Siemens Rolling Stock Pvt Ltd makes railway rolling stock. The transaction is subject to regulatory approval, the firm said in a statement to the Bombay Stock Exchange. Ahead of the announcement, Siemens shares ended down 1.89 per cent at Rs 683 in a weak Mumbai market.