France’s Montebourg Says Law Can Be Used to Block GE Alstom Bid
2014-05-15 18:43:15.993 GMT
By Rudy Ruitenberg
May 15 (Bloomberg) -- France’s decree on foreign takeovers
could “of course” be used to block General Electric bid for
Alstom energy units, Economy and Industry Minister Arnaud
Montebourg says in interview on broadcaster France 2.
* Alstom is “highly strategic” because its equipment is used
in country’s nuclear power stations
* “Totally possible” France would block deal if it doesn’t
have “good agreement” either with GE or Siemens
* France doesn’t seek to block, seeks to build alliances,
Montebourg says
* GE hasn’t yet responded to France proposal for alliance with
Alstom, according to Montebourg
* NOTE: Earlier, France Fortifies Anti-Takeover Law as GE,
Siemens Eye Alstom NSN N5M9EI6NKN04 <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Rudy Ruitenberg in Paris at +33-1-5365-5039 or
rruitenberg@bloomberg.net
To contact the editor responsible for this story:
Claudia Carpenter at +44-20-7330-7304 or
ccarpenter2@bloomberg.net
2014-05-15 18:43:15.993 GMT
By Rudy Ruitenberg
May 15 (Bloomberg) -- France’s decree on foreign takeovers
could “of course” be used to block General Electric bid for
Alstom energy units, Economy and Industry Minister Arnaud
Montebourg says in interview on broadcaster France 2.
* Alstom is “highly strategic” because its equipment is used
in country’s nuclear power stations
* “Totally possible” France would block deal if it doesn’t
have “good agreement” either with GE or Siemens
* France doesn’t seek to block, seeks to build alliances,
Montebourg says
* GE hasn’t yet responded to France proposal for alliance with
Alstom, according to Montebourg
* NOTE: Earlier, France Fortifies Anti-Takeover Law as GE,
Siemens Eye Alstom NSN N5M9EI6NKN04 <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Rudy Ruitenberg in Paris at +33-1-5365-5039 or
rruitenberg@bloomberg.net
To contact the editor responsible for this story:
Claudia Carpenter at +44-20-7330-7304 or
ccarpenter2@bloomberg.net