Hollande Terms GE’s Alstom Bid `Not Sufficient’

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May 6 (Bloomberg) -- Bloomberg’s Matthew Campbell reports on comments from French President Francois Hollande calling General Electric’s offer for Alstom “not sufficient… not acceptable” and the potential role of the U.K. government in Pfizer’s bid for AstraZeneca on Bloomberg Television’s “The Pulse.”

Connecticut ge who may be a little bit surprised to see some of the statements.

It looked like the french government or willing to -- were willing to let this proceed.

What is crucial is we have the president himself saying it is not one of his subordinates, it is not the economy minister.

It is the president.

Those words to carry weight.

What they are looking for is in the way of jobs guarantees and keeping important facilities in france, using ge asset as payment instead of cash to bulk up what remains after this deal.

We do not really know what they want.

That is something people will be trying to find out.

New they have a fighting chance?

Does it mean that siemens can come in stronger than it did last week?

The rival bid is still in the game.

Alston said they would give siemens until the beginning of june to make and alternative offer to general electric.

I do not think siemens is totally out of this.

Ge still has the upper hand and if you look at the shares today for alston, they are down in a flat market.

Not massively.

Investors are willing to give ge the benefit of the but -- of the doubt.

Let's talk about a different story.

The british prime minister is coming under pressure to back out of this transaction.

He has been telling people that he is in favor of the transaction and that the u.k. could secure decent guarantees as a result.

There is an interesting interplay going on.

This is a $106 billion bid from pfizer to astrazeneca.

The government said it was confident in the guarantees on jobs.

Astrazeneca seems to be saying we would like the government to be more neutral or perhaps even opposed to the disappearing of this very large british company into a big american company.

We will have to see where that lands.

This is a coalition government.

The junior partners are more skeptical about this deal than conservatives.

We will have to see how the coalition plays out as the head unfolds.

It is very active because astrazeneca has not accepted an offer.

Thank you very much.

Matt campbell with the very latest on the pharmaceutical sector and the alstom-ge story.

We will get the latest on kiev's fight for control.

That is coming up after the break.


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