Alstom’s board has until Monday to sign off on the deal, but has been supportive of GE’s bid all along.

"It's a prerequisite that France takes 20% of the capital. If that's not fully realized, GE's bid will be blocked," Economy Minister Arnaud Montebourg told a news conference in Paris.

He said the French government was adamant that the US company adhere to its conditions that "guarantee energy independence, job creation on national territory and maintenance of decision-making centres in France."