France pushes for concessions as Alstom bidding enters crucial week

http://ift.tt/eA8V8J France is continuing to press for guarantees from contenders to buy power equipment assets from Alstom ALSO.PA, as Siemens SIEGn.DE and Mitsubishi Heavy Industries 7011.T consider a joint move to challenge a formal offer from General Electric GE.N. The race to acquire power activities from Alstom, better known for its high-speed TGV trains, is entering a crucial week, with Siemens due to present an offer by Monday ahead of a June 23 cut-off date set by GE for its 12.4 billion euros ($16.88 billion) bid for all of Alstom's energy arm, which includes its thermal power, renewable power and grid businesses. Alstom is privately owned but the government has taken an active role in the talks. The French government has already secured a pledge from GE to create 1,000 new jobs in France within three years of a deal and Finance Minister Michel Sapin said on Sunday he expected the U.S. conglomerate to improve its offer further.



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