French Govt to Work with GE on New Alstom Plan
Photo: Alstrom
French Economy Minister Arnaud Montebourg said neither the General Electric (GE) offer or the joint Siemens-Mitsubishi Heavy Industries offer for Alstom power assets had met the government's demands, but that France would work with GE on defining a new proposal.
"The Siemens-MHI offer was serious but the government has made up its mind," Montebourg told a news conference.
The French state would purchase a 20 percent stake in Alstom from main shareholder Bouygues (BYG.MU) at market price, he said, adding that it was vital that key decision-making centres of the group would remain in France.
(Reporting by Jean-Baptiste Vey; editing by Natalie Huet, Mark John and Pravin Char)
