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France: Alstom breakup wavers between General Electric, Siemens

By  |  April 29, 2014

France-based engineering group Alstom is on path for a breakup as US-based General Electric and Germany-based Siemens both eye an acquisition of the company, say reports.

France is looking to support employees as well as national interests ahead of any deal – President Francois Hollande spoke with GE head Jeff Immelt and, separately, with Siemens head Joe Kawser earlier this week to discuss Alstom’s future, say reports.

Economy Minister Arnaud Montebourg recently tweeted that the nation would not “let Alstom sell this national champion behind the back of its shareholders, its employees and the French government,” assuring the nation that regulators would not be reckless with the company, which manufactures high-speed trains and power turbines.

According to reports, Alstom is likely leaning towards Siemens rather than General Electric to strike a deal.

Full content: Reuters

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