Germany's Siemens AG said Monday that it has decided to pull out of a nuclear power plant joint venture with French company Areva SA by 2012, citing a lack of "entrepreneurial influence."
Siemens said last week that it would consider dropping its 34 percent stake in the venture, Areva NP. On Monday, it said the company would terminate its shareholder agreement with Areva by Jan. 30, 2012, and sell the stake to the French company, which owns the remaining 66 percent.
"Siemens stated its lack of exercising entrepreneurial influence within the joint venture as the reason behind the move," which is subject to approval by antitrust …
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