Germany prefers Siemens tie-up with Alstom to GE deal: source

The German government would rather see Siemens take over the power arm of its French rival Alstom than have it acquired by General Electric, a government source in Berlin told Reuters on Monday. Separately, the German economy ministry said it believes a Siemens-Alstom tie-up would be a great opportunity for both Germany and France and Economy Minister Sigmar Gabriel is in contact with all parties, though it is a corporate decision. "A possible partial takeover offers great opportunities for both Germany and France from a potential industrial and political point of view," a ministry spokesman said. The German engineering group is offering Alstom half of its train-making business plus cash in exchange for the French firm's power turbines division, Le Figaro newspaper reported on Sunday.



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