NEW YORK CITY — Siemens AG and Bombardier Inc. are in talks to combine their rail operations, a deal which could be worth at least $10 billion, Bloomberg reported.

The proposed joint venture would merge the firms' train building and signaling work and potentially create a business that could better fend off increasing competition from China's CCRC Corp., which has been signing various contracts worldwide, the report said.

No final decisions have been made on the deal, which would require clearance from antitrust authorities and face potential opposition from unions, Bloomberg reported.

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