Siemens says respects France's decision on Alstom

FRANKFURT Fri Jun 20, 2014 4:18pm EDT

Related Topics

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)

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