France's Alstom and US giant General Electric await outcome of talks over their £10bn deal
The £10billion tie-up between France’s Alstom and US titan General Electric was last night awaiting the result of talks between the French state and building firm Bouygues.
The Alstom board agreed to sell GE its energy business, which among other things makes wind turbines – leaving rival bidder Siemens-Mitsubishi Heavy Industries out in the cold.
GE will sell its railway signal business to Alstom, and the two firms will also set up three joint ventures.
Move: The Alstom board agreed to sell GE its energy business, which among other things makes wind turbines, pictured, leaving rival bidder Siemens-Mitsubishi Heavy Industries out in the cold
The French government is expected to buy a 20 per cent stake in Alstom from Bouygues as part of the agreement, but had not agreed a price last night.
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