French government backs GE bid for Alstom

The race of rival bids for French engineering firm's energy arm appeared over as French government backs that of General Electric.

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General Electric Co. (GE) won France’s support to buy Alstom SA (ALO)’s energy assets, a prize also sought by Siemens AG (SIE), on the condition that the government acquire a 20 percent stake in the French engineering company, reports Bloomberg.