French government gives itself veto rights on foreign takeovers | Bangkok Post: news

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French government gives itself veto rights on foreign takeovers

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The French government on Thursday gave itself new powers of veto over foreign industrial takeover bids, which will allow it to control the fortunes of French giant Alstom, a current target. 

An employee of the French engineering group Alstom stands in front of the logo of the US company General Electric (GE) on April 29, 2014 in Belfort, France

The new rules, which could be applied to block the attempts of US General Electric or Germany's Siemens to take over Alstom's energy arm, were published in the official journal and will come into effect on Friday.

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