GE adds jobs to boost bid for Alstom power assets

General Electric (GE) chief executive Jeffrey Immelt leaves the Elysee Palace in Paris, after his meeting with the French President on May 28, 2014A takeover battle for parts of French power and rail group Alstom heated up on Wednesday, with US group General Electric promising to create 1,000 jobs in France, a source close to the matter said. After a meeting between French President Francois Hollande and GE head Jeffrey Immelt, the source said that “General Electric has undertaken to create 1,000 jobs in France.” Referring to a counter offer from German group Siemens, a French presidential source said: “We are working in the context of two proposals.” General Electric is offering 12.35 billion euros ($17.0 billion)to buy the power business of Alstom which is also a leading manufacturer of rolling stock for railways including the French TGV high-speed train.

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