28 Apr '14, 4pm

Why Is Alstom Such a Hot Commodity?

Why Is Alstom Such a Hot Commodity?

However, the U.S.-France relationship may be put to the test later this week if the reported bid by General Electric (GE) to acquire Alstom comes to pass. The French are famous for fiercely guarding the country’s assets, jobs and the ownership of its companies. Indeed, the French government last week warned GE that it was ready to fight for its national interests if GE did make a multi-billion dollar bid. The background here is that the government bailed out Alstom ten years ago to the tune of €2.5 billion; and the firm relies heavily on orders from state-owned rail operator SNCF and utility EDF. The government won’t want to put that legacy at risk. If GE does seek to buy Alstom or its energy assets — which account for 70 percent of the French company's sales — then completing an acquisition would not be simple or quick. There are plenty of reasons why such a deal would be...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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