France expects GE to increase Alstom's offer

(MENAFN) France's Finance Minister said his country expects General Electric (GE) to increase its offer for Alstom's power unit, responding to a potential joint offer from Mitsubishi and Siemens, Gulf Daily News reported. According to sources, Siemens and Mitsubishi are finalizing a joint venture offer for Alstom's turbine business, including a cash element of USD12.3 billion. This offer compares with the US corporation existing offer of USD16.65 billion for all of the French corporate energy assets. "Mitsubishi forming an alliance with Siemens improves Siemens' offer. I think that GE is also going to improve its offer," the French minister said.