Negotiations between France's Areva SA (CEI.FR) and Germany's Siemens AG (SI) over their joint venture Areva NP have stalled, according to Les Echos on Tuesday, citing people familiar with the matter.
Siemens wants to sell its 34% stake in the reactors venture back to Areva so the German company can ally with Russia's Rosatom in the nuclear field, the newspaper said.
The stake is worth about EUR2 billion ($2.98 billion), it said. The talks stalled over price and contractual terms, particularly a non-compete clause, the newspaper reported.
Now Areva and Siemens are awaiting the results of arbitration proceedings, according to the newspaper.