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Image header Agence Europe
Europe Daily Bulletin No. 8695
Contents Publication in full By article 11 / 34
GENERAL NEWS / (eu) eu/competition

Monti and Sarkozy to discuss Alstom affair next Monday

Brussels, 28/04/2004 (Agence Europe) - Competition Commissioner Mario Monti is to meet the new French Finance Minister, Nicolas Sarkozy, next Monday in order to discuss several topical issues including the Alstom group's re-financing plan of EUR 3.2 billion, currently being studied at the European Commission (EUROPE of 1 April, p.18). According to AFP, the Commission is not expected to take a stance on this issue before end June given the slow progress being made in discussions between the French and European officials. Also, the French government confirmed on Wednesday that the Prime Minister, Jean-Pierre Raffarin, had evoked the case of Alstom with the CEO of the Siemens Heinrich von Pierer group, as well as the possibilities for the German group to acquire a stake in Alstom. Fearing that the refinancing plan in place is not enough to bring Alstom out of its difficulties, France is said to be studying, among other scenarios, the repurchase by Siemens of certain activities of the French group, mainly its gas turbine business. This possibility would be well considered by the Commission, sources familiar with the issue said, as it assumes intervention by the private sector without public subsidies.

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