USA, Connecticut: General Electric (GE) France spokesman said that the company is not in talks with Toshiba Corp about the Alstom's power grid unit.
Toshiba would offer to buy Alstom's power grid equipment unit if GE purchased the French firm's energy businesses, reports Reuters. "GE is not in any discussions with Toshiba." the GE France spokesman said. "If our offer to Alstom is approved, we have no intention of selling the grid business."
On Thursday, a Toshiba spokesman said: "We are always considering M&A options to forward our business, and we can't deny the possibility of something happening in this area, but in regard to Alstom there is nothing concrete." Alstom is currently reviewing a binding $ 16.9 billion offer from GE for its energy business.
French President Francois Hollande said GE's bid was not acceptable as it stands and that the government's aim was to get better offers. The French government could ask Areva to take on Alstom's offshore wind energy unit if the GE deal go through.