Germany's Siemens wants to talk to France's Alstom about "strategic opportunities" raising the prospect of a takeover tussle for the French firm.
Siemens contacted the board of Alstom to "signal its willingness to discuss future strategic opportunities".
It follows reports that General Electric (GE) wants to buy Alstom, the maker of TGV high-speed trains.
GE boss Jeff Immelt is due in Paris on Sunday to meet senior French politicians, reports say.
Shares in Alstom jumped 11% on Thursday after a report said that GE was prepared to pay $13bn for the French firm.
'Other solutions'
Neither company has formally acknowledged takeover talks, but French politicians have expressed concern over the prospect of a foreign firm buying Alstom, which is one of the nation's biggest engineering companies.
France's economy minister Arnaud Montebourg has been particularly outspoken on the subject.
Last week he pledged to protect French national interests and said he would study "other solutions and scenarios" for Alstom.
It is thought Mr Immelt will meet him and possibly French Prime Minister Manuel Valls on Sunday, to address concerns about a possible takeover.
Alstom is one of France's biggest private-sector employers, with 18,000 staff across the country.
As well as making trains and signalling equipment it also makes turbines for the power industry.
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