Vigilance patriotique

[woolybanana]

Some of you may have noticed that General Electric, the great US maker of much heavy stuff like power stations and employer of 10000 people in France where it has a turbine building plant and research centre, is in discreet talks to take over Alstom. This latter is a maker of trains, windmills and also heavy kit like power stations and turbines. But, it aint making any money.

The main shareholder, Mr Bougues, he of the telecoms, would like to get rid of his 30 odd percent holding and is interested in a sale, BUT, along comes Mr. Montebourg waving the flag and vaguely threatening everybody with government intervention, saying that he as the dossier and will be keeping a VIGILANCE PATRIOTIQUE over the affair.

Can anyone please tell me what that means?

Given that patriotism is the last refuge of a scoundrel ( just look how patriotic Norman ued to be with union flags all over his barrel) is Montebourg just polishing his blazon with an eye on the presidential election in a few years or is he seriously saying that France might not like one private company taking over another and that he would like to stop it?

If he does block a deal on natzional grounds, then perhaps various FRench companies which control UK utilities etc might be given the old heave ho. Now there is an idea for a weekend contemplate in the bath.

[HoneySuckleDreams]

From what I've read GE only want the power part of Alstom. Some of our friends are employed by Alstom, it's probably the biggest employer in Tarbes so it's understandable that they are a bit twitchy at the moment although I think the Tarbes site manufacture power units for the trains so I think they will be safe.

Of course, it's OK for French companies to buy up parts of companies abroad, just not OK for others to do the same in France. Vive la difference !