Siemens ready to act if Alstrom-GE talks fail

The chief executive of Siemens said yesterday the German engineering group was ready to resume negotiations with Alstom and the French state should they fail to agree terms with the French firm's suitor, General Electric.

"We are still open for talks. The doors are open for Alstom and the French government," chief executive Joe Kaeser was quoted as saying by German tabloid Bild. "It is not over yet," he added.

France chose GE to form an alliance with Alstom on Friday, rejecting an offer from Siemens and partner Mitsubishi Heavy Industries, but said the deal still needed some work. The board of Alstom followed suit on Saturday and backed GE's proposal. – (Reuters)