GE’s offer likely to receive approval from the French government
France, Levallois-Perret: It is likely that GE's offer for the Thermal Power, Renewable Power, and Grid businesses of Alstom will receive the approval from the French government.
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France, Levallois-Perret: It is likely that GE’s offer for the Thermal Power, Renewable Power, and Grid businesses of Alstom will receive the approval from the French government.
The offer came after General Electric signaled that it will make concessions to not only guarantee Alstom jobs in France, but to even add 1,000 industrial jobs within the next three years.
Siemens asked for more time for a counteroffer for Alstom and it will also not be able to give similar guarantees for Alstom’s workforce in France, according to Seeking Alpha. Further reports claim that Siemens will most likely play along, produce an unattractive offer, and then withdraw to observe how GE occupies itself with Alstom.
Also, the French government is likely to interfere in any future decisions which have an impact on Alstom’s workforce in France. With the struggling economy and governmental debt growing, the government has not taken any measures to reverse this trend despite various announcements.
Source: Seeking Alpha
Image: Kristina Frazier Henry (Creative Commons Licence)
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