French government gives green light for GE-Alstom deal

Wed Nov 5, 2014 5:13am EST
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PARIS (Reuters) - The French government gave the green light on Wednesday for General Electric's (GE.N: Quote) planned 12.4 billion euro ($15.6 billion) purchase of most of Alstom's (ALSO.PA: Quote) power business.

Economy Minister Emmanuel Macron said in a statement that the government would activate the process that would see it take a stake of up to 20 percent in French engineering group Alstom from shareholder Bouygues (BOUY.PA: Quote) once the GE-Alstom deal was fully completed.

(Reporting by James Regan; Editing by Andrew Callus)

The logo of U.S. conglomerate General Electric is pictured at the company's site in Belfort, April 27, 2014.   REUTERS/Vincent Kessler