Trading in Alstom halted amid talk of GE bid
Trading halted in shares of Alstom, maker of TGV high-speed trains, amid talk of GE bid
A view of the company logo Alstom at the headquarters of the leading global maker of high-speed trains, power plants and grids, outside Paris, France, Thursday, April 24, 2014. Shares in French train and equipment manufacturer Alstom have climbed more than 12 percent in early Paris trading on reports that General Electric Co. is considering buying it, but Alstom released a statement that it would not comment until its annual earnings report scheduled for May 7.(AP Photo/Jacques Brinon)
·Associated PressPARIS (AP) -- France's markets regulator has ordered trading suspended in shares of engineering company Alstom amid heated speculation that General Electric Co. is considering buying it.
Reports that GE may make a bid sent Alstom shares spiking this week, and its stock closed nearly 11 percent higher Thursday at 27 euros. The Euronext stock exchange says trading was halted Friday morning at the regulator's request.
The French government is cool to the idea of a buyout of a company that pioneered TGV high-speed trains, later exporting them around the world, and builds nuclear turbines.
Economy Minister Arnaud Montebourg, who has fought against American companies seeking to buy French rivals, told Le Monde on Friday the government is "working on other solutions" for Alstom.
Alstom says it hasn't been informed of an offer.
