French government to block GE bid?

    GE’s bid to take over power plant builder, Alstom, may be checked by the French government.

    The news emerged yesterday that insiders had told Bloomberg of a $13bn bid for the company from the US giant.

    However, responding to the speculation, new French Prime Minister Manuel Valls (pictured) told reporters the government would keep a close watch on jobs, technology and decision-making.
    Manuel Valls
    His economy minister, Arnaud Montebourg, has a track record of intervening in big industrial deals.

    Shares in France’s Alstom surged over 14 per cent yesterday, after the report.

    Alstom denied the speculation yesterday, saying it “is not informed of any potential public tender offer for the shares of the company”, but added that it “constantly reviews the strategic options of its businesses.”

    For more power mergers and acquisitions news

    For more on GE’s Alstom bid

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