GE eases ahead in race for Alstom power assets

By James Regan and Benjamin Mallet PARIS (Reuters) – Cash-strapped French engineering group Alstom said on Wednesday it would explore a $16.9 billion offer from General Electric for its energy arm while leaving the door open to a rival bid from Germany's Siemens. Alstom gave Siemens until the end of May to propose its own deal after the government of President Francois Hollande balked at the U.S. group's overtures last week, insisting any outcome must safeguard jobs at the one-time champion of French industry, while ensuring the nation's energy independence. Economy Minister Arnaud Montebourg – furious when news of the deal emerged last week – softened his tone towards GE, calling it a "a serious company". "We have a good relationship with GE," Montebourg told a parliamentary committee after Alstom confirmed in a statement it was reviewing the GE offer.