A widely-reported letter from French industry minister Arnaud Montebourg to GE CEO Jeff Immelt said Paris would not back the $17bn offer tabled for Alstom’s energy interests “as it stands”.
Montebourg said he opposes an outcome that sees Alstom’s energy interests – including its renewables operations – “disappear” via a straightforward acquisition. Instead he suggests discussing a “balanced partnership”, citing the example of GE’s joint venture with Safran in aero engines.
The
