AOMFF - Bombardier to fight Alstom claims on rail deal at arbitration

Bombardier (OTCQX:BDRAF) (OTCQX:BDRBF) said Monday it will "vigorously" defend itself against claims by French railway company Alstom (OTCPK:ALSMY) related to last year's sale of its transportation operations. Bombardier (OTCQX:BDRBF) said it received a notice from Alstom (OTCPK:ALSMY) requesting arbitration before the International Chamber of Commerce, which could last several years. In its request for arbitration, Alstom (OTCPK:ALSMY) alleges Bombardier (OTCQX:BDRBF) is "in breach of certain contractual provisions." Bombardier (OTCQX:BDRBF) also plans to challenge certain purchase price adjustments which resulted in lower than expected proceeds from the transaction. Bombardier (OTCQX:BDRBF) is "an undervalued turnaround story" and is "slowly getting credit for its strong progress toward its 2025 targets," JP Research writes in a bullish analysis posted on Seeking Alpha.

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Bombardier to fight Alstom claims on rail deal at arbitration