France warns Alstom against 'precipitous' tie-up

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Associated Press

Posted on April 27, 2014 at 5:30 AM

Updated Sunday, Apr 27 at 5:30 AM

PARIS (AP) — France's economy minister says the country's national interest is at stake in a potential sale of engineering giant Alstom, and warned the company against making a hasty deal with General Electric Co.

Arnaud Montebourg says in a statement Sunday that the government wants time to examine a separate offer from German rival Siemens aimed at creating two "European champions" in transport and power engineering.

Montebourg says that "given the strategic stakes for French industry and economy, the government won't accept any precipitous decision made without taking account of alternative choices in the national interest."

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