Siemens, France weigh in as GE preps Alstom deal.

Siemens and the French government intervened in U.S.-based General Electric's plan to buy the power arm of France's Alstom on Sunday by offering an alternative tie-up between European 'champions' and a pledge to act in France's national interest.

Though Alstom is privately owned, France's firebrand Economy Minister Arnaud Montebourg issued a stark reminder of the influence the government holds over a company that relies heavily on orders from state rail operator SNCF and partly state-owned utility EDF.

'GE and Alstom have their calendar, which is that of shareholders, but the French government has its own, which is that of economic sovereignty,' Montebourg said in a statement.


THE FINANCIAL EXPRESS