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France Awaits Detailed Offer from Siemens for Alstom

BERLIN -- President Francois Hollande says France is awaiting a detailed offer from German industrial conglomerate Siemens (SI) for France's Alstom, but won't prejudge the outcome of a potential takeover battle with General Electric (GE - Get Report).

Hollande says GE's offer for the energy-related businesses of engineering company Alstom isn't good enough, though Alstom favors it. Siemens is considering making an offer for its power-generating business.

Hollande said Saturday after meeting German Chancellor Angela Merkel that France is "particularly attentive" to implications for jobs, locations and where decisions are made.

Merkel said the matter is a business decision "in which, at least from the German side, we're not interfering." But she indicated Berlin would view a deal positively "if it brings advantages."

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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