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Alstom chief expects GE deal approval

Jun. 30, 2015 7:41 AM ETAlstom SA (ALSMY) StockAOMFF, ALSMYBy: Yoel Minkoff, SA News Editor
  • Alstom (OTCPK:ALSMY) CEO Patrick Kron is confident the planned sale of his group's power business to General Electric will win EU approval.
  • "I do not see why Plan A would not work out," Kron told Le Figaro, when asked if he has any plan B should Brussels block the deal.
  • The Commission is concerned the takeover would leave just two gas turbine companies in Europe, with GE competing against Germany's Siemens.
  • Alstom's shareholders will meet today to defend and discuss the project.

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