The President of the Republic and the Government are taking action with the intention of influencing the negotiations on the takeover bids for Alstrom’s energy branch.
Speaking at the “L’Etat mobilisé pour l’emploi” (The State taking action for employment) meeting on Monday 28 April which brought together all of the regional and local players, the President of the Republic emphasised that “the State inevitably has an input in the Alstrom affair”, whose energy branch is being courted by America’s General Electric and Germany’s Siemens.
The State “controls France’s energy independence”, François Hollande stated, confirming that there was “only one criterion”, the one “that would most encourage the creation of activity and employment” in France.
Faced with the possibility of a potential takeover of a flagship of French industry, the State intends to exert its influence. “GE and Siemens are two major investors in France and key players in our national industrial fabric", the Minister of the Economy, Production Recovery and the Digital Economy, Arnaud Montebourg, said in a statement on Sunday.
“The Government is prepared to examine their projects with a view to safeguarding the interests of France’s industrial base and to contribute financially. It will be particularly firm in its demands for maintaining and creating employment, investment, and research and development in France, as well as keeping decision-making centres in France. It will be extremely vigilant with regard to preserving the excellence and independence of the French nuclear sector” Arnaud Montebourg affirmed.
“Considering the strategic issues for French industry and economy, the Government cannot accept that any decision be made with undue haste and without the joint appraisal of the alternative options with the Nation’s economic interests”, the Minister said.
François Hollande met with the CEOs of General Electric and Siemens on Monday as well as Martin Bouygues, reference shareholder for Alstom, to discuss a possible takeover of the French company’s energy branch.
Following Tuesday’s meeting with the trade union organisations on the Alstom affair, Arnaud Montebourg declared that the Government would take “the necessary measures to defend the interests of the State”. “I am instructing the AMF (French Financial Markets Authority) to ensure strict equality between General Electric’s and Siemens’ proposals. The Government will take the necessary measures to defend the interests of the State” he said.