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

  • 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.
Comments (12)
  • maltman1009
    , contributor
    Comments (5) | Send Message
     
    In spite of whatever the numbers may say, this alliance spells "G-R-I-E-F" for GE because of a generally hostile atmosphere in France.

     

    GE should walk -- and not look back. Au revoir, mon amis - as in "See ya later!"
    15 May, 08:27 AM Reply Like
  • dawndale
    , contributor
    Comments (32) | Send Message
     
    I remember when France collaborated with Germany in the past, because France has only tunnel vision when it comes to how they hold on to their established way of living. Too often what could really be best for all concerned is tossed away, simply to tell themselves Viva Le France - meaning, play time is what counts. It is all for show.
    What hurts them is that if not for tourism and wine lovers, they would not be doing too well.
    15 May, 08:33 AM Reply Like
  • duhaus
    , contributor
    Comments (320) | Send Message
     
    GE, let Siemens have Alstom and walk away with the penalty fee then return it to your shareholders, then we can all say "thank you France" which would be a welcome change.
    15 May, 08:39 AM Reply Like
  • jakewood
    , contributor
    Comments (2) | Send Message
     
    Getting French Government to say grace over a money losing company is a strong signal GE should welcome the Siemens competition to let them off the 1.5 billion $ breakup penalty, which they were idiots to offer in the first place.
    15 May, 09:01 AM Reply Like
  • Ervin Seferi
    , contributor
    Comments (8) | Send Message
     
    I am not sure if this is arrogance that the french are displaying or ingenious business decision... Only time will tell. To intentionally push an investor away just seems ludicrous to me...
    15 May, 09:18 AM Reply Like
  • tribefan
    , contributor
    Comments (5) | Send Message
     
    Sounds like someone is waiting to get their palm greased.
    GE has been more than generous to up their original offer for a hope so, maybe so, company that has trouble standing on it's own. Pull the plug GE, this deal would be an albatross to GE's future growth.
    15 May, 09:18 AM Reply Like
  • Copious28
    , contributor
    Comments (402) | Send Message
     
    GE should buy them, then move all the jobs to India.
    15 May, 09:21 AM Reply Like
  • edhaven
    , contributor
    Comments (36) | Send Message
     
    My knowledge of what is going on with GE and France is zilch. Based only on limited headlines and condensed news, I wonder why anyone would be interested in paying a premium to own it. A hostile French government does nothing to help
    the situation.
    15 May, 01:07 PM Reply Like
  • bberuch
    , contributor
    Comments (283) | Send Message
     
    I will not bother to bash Mr Immelt for pursuing such a messy entanglement.
    15 May, 02:30 PM Reply Like
  • Hlog160
    , contributor
    Comments (14) | Send Message
     
    I am not surprise that France is taking this position. They really have never been a real friend to the US. Have you ever traveled in France? They only tolerate us and our money nothing else.

     

    A trip to Tahiti would show you their contempt of us.

     

    This long time GE investor says, run as fast as you can from there and take the bonus.
    15 May, 06:07 PM Reply Like
  • dawndale
    , contributor
    Comments (32) | Send Message
     
    These talks could go on for a long time. We don't have all the information that is available to Ge and Siemens. All we really have is opinions and instinct. GE has been around for a long time, as Siemens has been, and I find it difficult to believe that either company would be interested in a loser. As an investor in GE, I have to trust that the leaders here know what is best, not just for now but the future.
    18 May, 12:04 PM Reply Like
  • dawndale
    , contributor
    Comments (32) | Send Message
     
    If this is the day GE settles the deal great, but if not, those who invest in GE or any company would be better off to relax, take a deep breath and accept that the end result is not in our control! I also invest in small and not yet proven companies but with GE and others that have a proven track record it is a waste of energy and time to get too hyped. France is France, it isn't likely to change but we need to change by thinking more about who we are and where we want to be in the future. The U.S. is not like any other country - thank God -and I hope that is appreciated by all of us. It often seems as if the last Frenchman that really like America was Lafayette! He actually believed in what we are. France would be better off now if they made some changes.
    27 May, 12:01 PM Reply Like
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