The ongoing battle for control of Alstom’s energy arm has undergone a further twist.<br /><br />The French government appears to favour the General Electric bid saying Paris will buy 20 percent of telecom giant Bouygues’ stake in Alstom.<br /><br />The French government will retain a veto on any strategic decisions, which may impact on French jobs or the company’s well being.<br /><br />The last 48 hours has seen General Electric sweeten its 17 billion US dollar bid.<br /><br />Earlier Siemens and Mitsubishi Heavy Industries upped the cash content of their offer.<br /><br />The outcome is not a foregone conclusion. The French group reaffirmed that its board would meet no later than Monday to review the situation.
