- French President Francois Hollande doesn't oppose GE's (GE) proposal to acquire Alstom's (ALSMY) energy assets, Bloomberg reports.
- Hollande's view is different from that of Industry Minister Arnaud Montebourg, who supports a deal in which Alstom would swap its energy operations for some of Siemens' (SI) rail business.
- Hollande and GE CEO Jeff Immelt held talks in Paris today in a meeting that focused on protecting jobs and ensuring that France’s nuclear industry remains independent. Hollande is due to meet Siemens CEO Joe Kaeser and Chairman Gerhard Cromme as well.
- GE argues that its proposal would lead to fewer job cuts, as it has smaller overlaps with Alstom, while Siemens is willing to make guarantees about jobs and executive positions.
- Meanwhile, Germany's government hopes Siemens wins out, Reuters reports, believing that it would be a great opportunity for France and Germany.