Siemens says respects France's decision on Alstom

FRANKFURT Fri Jun 20, 2014 4:18pm EDT

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FRANKFURT (Reuters) - Siemens (SIEGn.DE) on Friday conceded in its battle to take over part of France's Alstom (ALSO.PA), after France rejected its offer with Mitsubishi Heavy Industries (7011.T) in favor of a rival bid from General Electric (GE.N).

"We respect and understand the political interest of the government in the field of energy," Siemens said in a statement, adding that its offer for Alstom's energy assets was "verifiably better" than the rival bid.

"The safeguarding of national interests is a matter of the State," Siemens Chief Executive Joe Kaeser said in the statement.

(Reporting by Jonathan Gould)

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