PARIS -- France is still pushing for improved job and energy security guarantees from two bidders for Alstom's power-generation business but is treating them equally, the French president's office said Thursday.
The French state has no preference between the two offers but wants the terms to be improved, the president's office said, referring to the fate of Alstom (IW 1000/169), a leading French employer and a hot political subject at a time of record unemployment.
The Elysee Palace made the comments after a meeting between President Francois Hollande, Prime Minister Manuel Valls and Economy Minister Arnaud Montebourg.
It was only when the advanced stage of talks between Alstom and GE became public knowledge that Montebourg reacted angrily, fearing that decision-making would move to the United States and jobs would be lost, and encourage Siemens to show an interest.
Alstom is one of France's biggest private-sector employers with about 18,000 staff nationwide.
The energy unit, which builds generators, turbines and transmission systems and would complement GE's own power industry division, accounts for 70% of Alstom's business.
About 10 years ago Alstom, then an even bigger name in French industry, got into severe difficulties and had to be rescued, but the company was also forced to divest its shipbuilding activities.
The problems around Alstom are seen as being symptomatic of national angst over a decline of industry and falling competitiveness of French business.
Copyright Agence France-Presse, 2014
