General Electric’s offer for French firm Alstom’s energy arm is “not enough”, President François Hollande declared on Tuesday. Economy Minister Arnaud Montebourg expressed concern about the “isolation” of Alstom’s rail transport interests, in a letter to the US company Monday, reports RFI.
“The offer is not enough so it is not acceptable,” Hollande said in an interview with BFMTV and RMC radio, adding that the French government has “enough clout to ensure that at the end of the process it’s good for Alstom, good for French industry and good for energy diversification”
The government is justified in intervening because it is in charge of public-sector orders with Alstom, Hollande said.
Read more of this report from RFI.
Read Mediapart's coverage of the takeover deal here.