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France's Hollande: awaiting Siemens' Alstom offer

Sunday - 5/11/2014, 3:38am  ET

French President Francois Hollande gestures during a news conference with German Chancellor Merkel at the town hall in Stralsund, northern Germany, Saturday, May 10, 2014 during the second day of Hollande's two days visit to Merkel's scenic home constituency on the Baltic coast . One of the main talking points is expected to be over whether the European Union should impose further sanctions on Russia, for its involvement in the Ukraine crisis. (AP Photo/Gero Breloer)

BERLIN (AP) -- President Francois Hollande says France is awaiting a detailed offer from German industrial conglomerate Siemens for France's Alstom, but won't prejudge the outcome of a potential takeover battle with General Electric Co.

Hollande says GE's offer for the energy-related businesses of engineering company Alstom isn't good enough, though Alstom favors it. Siemens is considering making an offer for its power-generating business.

Hollande said Saturday after meeting German Chancellor Angela Merkel that France is "particularly attentive" to implications for jobs, locations and where decisions are made.

Merkel said the matter is a business decision "in which, at least from the German side, we're not interfering" but indicated Berlin would view a deal positively "if it brings advantages."

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