"When it comes to the decision to further divest Siemens Energy shares ... we brought it down in 2023 from 25.1% to 17.1% at the moment and we continue to do just that," Busch told the company's AGM.
"We are going to reduce our shares based on the market environment and we don't exclude any options," he added, saying selling the shares as a package would be considered.
Siemens also wanted to remain majority shareholder in Siemens Healthineers, where it holds a 75% stake, Busch added. Siemens, which also reported its Q1 earnings on Thursday, did not need to use Healthineers shares to pay for acquisitions.
"We believe that this is a very attractive and innovation driven business that allows us to participate in that market," Busch said.
(Reporting by John Revill, Editing by Rachel More)
