Bombardier spokesman David Slack has confirmed that the transportation giant is no longer in talks to buy stakes in the Russian railway equipment manufacturer Transmashholding.
He declined to confirm the reason for the breakdown in talks but it is believed that the price of the transaction was the source of contention.
"As in the past we can't speak to specifics or react to reports in the press," said Slack. "But what I can say is that we are not in active discussions on the opportunity that was outlined in today's press."
President of OAO Russian Railways, Vladimir Yakunin, however, was quoted in the Russian press as having said that "Bombardier was surprised at the high price of the holding".
Bombardier entered into talks with Transmashholding to purchase shares of the Dutch Breakers Investment group, which owns the company. The deal was valued at between $2bn and $3bn.
By Daniel Garrun
