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French minister defends Alstom-Siemens deal

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Staff Writer | September 27, 2017
France's finance minister is defending a deal to merge French high-speed train maker Alstom with Germany's Siemens as crucial to keeping European industry globally competitive.
Alstom trains
Europe   Train makers
Finance and Economy Minister Bruno Le Maire told reporters that the deal is especially important given growing competition from Chinese train makers to meet worldwide demand for the kind of high-speed trains once exemplified by Alstom's TGVs.

President Emmanuel Macron's government is under fire over the Alstom deal because the French state owns 20 per cent of Alstom and has repeatedly intervened to save its jobs.

Critics accuse the government of letting Germany buy out a French industrial champion.