June 20, 2014 / 8:19 PM / 4 years ago

Siemens says respects France's decision on Alstom

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

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below