Mitsubishi, France could take equal stakes in Alstom

Posted by Eric Haun
Friday, June 13, 2014
Photo: Alstrom

Mitsubishi Heavy Industries and the French government would take equal stakes in Alstom as part of a rival offer to that of General Electric, a trade union representative said following a meeting with economy minister Arnaud Montebourg.

"The minister described Mitsubishi's offer...Clearly, this is an alliance scheme that counters GE's proposal," said Gabriel Artero, CFE-CGC representative of France's steelworkers federation.

"The state and Mitsubishi would take joint and equal stakes in Alstom," he said, adding this would imply buying back at least a part of the 29 percent stake currently held by Alstom's top shareholder Bouygues.

(Reporting by Matthieu Portard; Writing by Natalie Huet; Editing by Maya Nikolaeva)

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