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France won an option to buy 20 percent of Alstom from construction group Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of Alstom's energy business to General Electric . The government had backed the tie-up on condition that it first secured the Alstom stake from Paris-based Bouygues - leaving less than three days to negotiate an agreement before GE's formal offer expires on Monday. Ministers are determined to maintain influence over a complex deal that parks some Alstom assets deemed strategically important to France within GE-controlled joint ventures.



The chief executive of Siemens said on Sunday the German engineering group was ready to resume negotiations with Alstom and the French state should they fail to agree terms with the French firm's suitor, General Electric. CEO Joe Kaeser was quoted as saying by German tabloid Bild, "We are still open for talks. The doors are open for Alstom and the French government.

General Electric revised its bid for the power arm of Alstom on Thursday, offering alliances in energy and rail to appease the French government and beat a rival proposal by Siemens and Mitsubishi Heavy Industries. It was the latest shot in a two-month fight for control of Alstom's energy business that has seen the Socialist government give itself powers to block any deal in the name of protecting local jobs and influence over a strategic sector.