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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.

Siemens and Mitsubishi Heavy Industries raised their offer for Alstom's energy businesses to compete with a revised bid by U.S. rival General Electric. Siemens-MHI and GE have been facing off in a battle for control of Alstom's power businesses 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.

France expects General Electric to boost its bid for Alstom's power unit in response to a potential joint offer from Siemens and Mitsubishi Heavy Industries, Finance Minister Michel Sapin said on Sunday. Siemens and Mitsubishi are putting the finishing touches on an offer for Alstom's turbine businesses, including a cash element of roughly $12.3 billion, according to sources close to the bidders. GE, meanwhile, has made a pledge to the French government to create 1,000 new jobs in France within three years of a deal, according to sources close to the discussions.