Hollande tells govt to pursue better offers on Alstom

PARIS Mon May 19, 2014 7:30am EDT

PARIS May 19 (Reuters) - French President Francois Hollande urged key ministers during a meeting on Monday to continue to seek better offers concerning power and train-making firm Alstom , an official at his office said.

The meeting was with Prime Minister Manuel Valls, Economy Minister Arnaud Montebourg and Segolene Royal, minister for the environment and energy.

Alstom is in talks with U.S. conglomerate General Electric over a 12.35 billion euro ($16.9 billion) bid for its power arm, which it is due to review by June 2.

Germany's Siemens is working on a rival offer involving a formal asset-swap offer for Alstom's power business that could come as early as this week and see France take a stake in a resulting rail-focused French group, sources have told Reuters. ($1 = 0.7297 Euros) (Reporting by Julien Ponthus; Writing by Brian Love; Editing by James Regan)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.