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International Outlook: GLOBAL WRAPUP


Siemens, the German electronics giant, has aced out Swiss-Swedish Asea Brown Boveri for a stake in engineering concern Skoda Pilsen. Siemens will take a 67% stake in a new power-engineering venture valued at about $170 million. But Siemens may wind up paying a stiffer price. Part of its edge over ABB was a promise to protect jobs by transferring some of its own projects to Skoda if Czech orders dry up. Siemens and ABB are still bidding for the transportation business of Skoda, a deal that will be decided within weeks.EDITED BY STANLEY REED

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