French minister says talks with Siemens on Alstom "extremely constructive"

|About: Siemens AG (SIEGY)|By:, SA News Editor

French Economics Minister Montebourg says talks with Siemens (SI) over a possible tie-up with Alstom (ALSMY) are continuing and are "extremely constructive," despite the preference expressed by the French firm's board for rival bidder GE.

The minister's comments come hours after the government signed a decree giving it extended authority to block foreign takeovers of companies deemed strategic.

GE does appear to have one important French supporter, as Energy Minister Royal says the GE offer is a "very good opportunity" for Alstom and France should stop scaring away foreign investment.