LUXEMBOURG, June 19 A revised offer by General
Electric for a tie-up with Alstom is a
"substantial improvement" on its previous proposal, French
Finance Minister Michel Sapin said on Thursday.
"You see, the government was right to intervene," he told
reporters on the margins of a meeting of European finance
ministers in Luxembourg.
GE said earlier its new offer had been agreed with Alstom
management and would create an "alliance" with 50:50 joint
ventures in grid, nuclear and renewable assets.
The U.S. group would still end up with all of the lucrative
gas turbines arm if approved by Alstom's board.
(Reporting by Ingrid Melander; Writing by Mark John; Editing by