PARIS, April 29 French engineering group Alstom
is expected to give Germany's Siemens an
extra two to three weeks to draw up a more detailed proposal for
the future of their power and rail businesses, sources close to
the talks said on Tuesday.
Alstom is expected to hold a board meeting later in the
evening during which it will consider proposals from both
General Electric and Siemens to take over its power arm.
Siemens, which has convened a supervisory board meeting to
discuss the matter, has not yet made a more detailed proposal
than a bid worth $14.5 billion whereby it offers exchanging part
of its rail business plus cash in exchange for Alstom's power
assets, the sources said.
Separately, a source close to the French government said
state shareholding agency APE had not been approached about any
sale of EDF shares held by the government as part of a
state-led solution for Alstom.
French magazine Le Nouvel Observateur earlier reported the
government was considering selling part of its stake in the
utility to finance a buyout of the 29-percent stake in Alstom
held by Bouygues and a capital hike of the French
train and turbine maker.
(Reporting by Sophie Sassard in London, Arno Schuetze in
Frankfurt and Benjamin Mallet in Paris; Editing by Andrew