Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Siemens Mulls Tender

MOSCOW -- Siemens AG is considering bidding in the upcoming government tender to sell off a 25 percent stake in the Svyazinvest telecommunications company, the German giant said Tuesday.

Siemens may take part in a consortium of other companies, said Robert Schmit, chief of Siemens in Russia.

The German firm is holding talks with potential Russian partners, Schmit said, but he declined to identify them.

The Kremlin plans to privatize a 25 percent minus two shares stake in Svyazinvest at an Oct. 16 auction.