Siemens is considering carving out all or part of the business to prepare it for a potential stock market listing or a merger with a peer, the people said.

They added that the company's supervisory board may decide on a potential carve-out at a Tuesday meeting and could present the plans at Siemens' capital markets day on Wednesday.

Siemens declined to comment on the future strategy of the Gas and Power unit, whose gas turbines business has seen orders slump as utilities shift towards renewable energy sources.

(Reporting by Alexander Hübner and Arno Schuetze; Editing by Paul Carrel)