GE promises 1,000 hires if France approves its bid for Alstom
US conglomerate General Electric (GE) raised the stakes Wednesday in the tug-of-war for French transport and energy group Alstom by promising to hire 1,000 people if its takeover offer was approved, Le Monde newspaper reported. GE’s chief executive Jeffrey Immelt made the proposal during a meeting in Paris with President Francois Hollande, who has been demanding more guarantees on jobs, Le Monde reported. Immelt’s meeting with Hollande was his second since April and comes as the contest between his group and Germany’s Siemens to acquire Alstom’s energy business enters its final month. Alstom’s power plant turbines account for around 70 per cent of its revenues.
US conglomerate General Electric (GE) raised the stakes Wednesday in the tug-of-war for French transport and energy group Alstom by promising to hire 1,000 people if its takeover offer was approved, Le Monde newspaper reported. GE’s chief executive Jeffrey Immelt made the proposal during a meeting in Paris with President Francois Hollande, who has been demanding more guarantees on jobs, Le Monde reported. Immelt’s meeting with Hollande was his second since April and comes as the contest between his group and Germany’s Siemens to acquire Alstom’s energy business enters its final month. Alstom’s power plant turbines account for around 70 per cent of its revenues.
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