France picks GE for Alstom, but says still work to do

[riky]

France picks GE for Alstom, but says still work to do

<p><a href="http://news.yahoo.com/siemens-mitsubishi-raises-alstom-offer-end-game-nears-080004285--sector.html"><img src="http://l3.yimg.com/bt/api/res/1.2/uwTsHaJlLsvKPSRwYt7EDA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-06-20T110454Z_1006950001_LYNXMPEA5J0EC_RTROPTP_2_CBUSINESS-US-ALSTOM-OFFER.JPG" width="130" height="86" alt="President and Chief Executive Officer of Siemens Kaeser and Mitsubishi Heavy Industries Chief Executive Miyanaga attend a news conference after a meeting with French government in Paris" align="left" title="President and Chief Executive Officer of Siemens Kaeser and Mitsubishi Heavy Industries Chief Executive Miyanaga attend a news conference after a meeting with French government in Paris" border="0" /></a>By Jean-Baptiste Vey and Natalie Huet PARIS (Reuters) - France chose General Electric to form an alliance with Alstom on Friday, rejecting an offer from Siemens and Mitsubishi Heavy Industries, but said the deal still needed some work and added the government would buy a 20 percent stake in the hotly-contested company. Economy Minister Arnaud Montebourg said he had used a newly-created state decree to reject both of the existing offers as not being in France's strategic interest, and had formulated fresh demands for GE Chief Executive Jeff Immelt. &quot;The points we have raised with General Electric are precise and technical but necessary,&quot; Montebourg told a news conference after two days of talks involving the bosses of the three suitors, President Francois Hollande and top ministers.</p><br clear="all"/>

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