Siemens-Alstom is above all corporate decision : Merkel
Sunday, 11 May 2014
STRALSUND, May 10 (Reuters) : Chancellor Angela Merkel said on Saturday that the German government would positively accompany a tie-up between Siemens and Alstom but said that any link would be first and foremost a corporate decision.
Speaking at a news conference with French President Francois Hollande in the Baltic town of Stralsund, Merkel said the German government, at least, does not want to intervene in the corporate decision-making. She said Siemens first has to come forth with an offer. Alstom is the target of a takeover bid from US giant General Electric.
Hollande said that the French government is awaiting a detailed offer from Siemens for Alstom assets. "We are awaiting the detailed offer from Siemens before taking a position," he said. "We don't want to prejudge the choice."
The French government has signaled it would prefer a tie-up with German conglomerate Siemens. On Friday it said it wanted French state-controlled nuclear group Areva to take over Alstom's offshore wind turbine unit if GE's bid for Alstom succeeded.