Germany voices support for Siemens-Alstom deal

The German government voiced support on the 28 April 2014 for a deal between the German company Siemens and France's Alstom, saying plans for a swap of energy and rail assets could offer 'great opportunities' for both countries.

Alstom was in a serious economic state and had been approached by the US company General Electric to take over its energy business.

On the 30 April 2014 Alstom said that it would decide by the end of May 2014 whether to accept the €12.35bn offer from General Electric for its energy business.

'We will not allow this national flagship to be sold behind the back of the shareholders, the employees, and the French government,' France's Economy Minister Arnaud Montebourg had said on the 28 April 2014. The state would 'defend the economic and industrial interests of France.'

The European Commission voiced concerns after the French government issued a decree in May 2014 giving it the power to veto takeovers in sectors seen as 'strategic' for France, including the Alstom deal currently being negotiated with General Electric.

• Primary Source

ESO: Background information: Unholy car alliance / GM poised to take 7% stake in Peugeot http://www.europeansources.info/record/unholy-car-alliance-gm-poised-to-take-7-stake-in-peugeot/

German Foreign Policy.com, 29.04.14: Descent into the Minor League http://www.german-foreign-policy.com/en/fulltext/58744

BBC News, 02.05.14: Heseltine calls for government role in foreign takeovers http://www.bbc.co.uk/news/business-27245995

BBC News, 30.04.14: Alstom to consider $17bn General Electric offer http://www.bbc.co.uk/news/business-27217339

France24, 30.04.14: Alstom's board favour EUR12.35bn GE offer http://www.france24.com/en/20140430-alstoms-board-reported-favour-ge-offer-france-siemens/

Deutsche Welle, 29.04.14: Alstom's plight illustrates France's problems http://dw.de/p/1BqWn

Deutsche Welle, 30.04.14: Siemens vs. GE - longstanding rivals http://dw.de/p/1Br4a

The Guardian, 29.04.14: Siemens enters Alstom takeover battle with General Electric http://www.theguardian.com/business/2014/apr/29/siemens-enters-alstom-takeover-battle-general-electric

Les Echos, 13.05.14: France must do more for its industry (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE143331-France-must-do-more-for-its-industry

BBC News, 07.05.14: Alstom reports fall in profits as it mulls power bids http://www.bbc.co.uk/news/business-27305030

France24, 09.05.14: Alstom takeover poses national security risk to France http://www.france24.com/en/20140509-alstom-takeover-poses-national-security-risk-france-usa-siemens-ge-germany/

France24, 06.05.14: France rejects GE’s Alstom bid ‘in current form' http://www.france24.com/en/20140506-france-rejects-ge-alstom-bid-energy-business-siemens-montebourg/

EurActiv, 19.05.14: Brussels worried about French protectionism in Alstom talks http://www.euractiv.com/sections/innovation-enterprise/brussels-worried-about-french-protectionism-alstom-talks-302209

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