Trading in Alstom halted amid talk of GE bidApril 25, 2014 @ 2:17 am
See all photos
PARIS (AP) -- France's markets regulator has ordered trading suspended in shares of engineering company Alstom amid heated speculation that General Electric Co. is considering buying it.
Reports that GE may make a bid sent Alstom shares spiking this week, and its stock closed nearly 11 percent higher Thursday at 27 euros. The Euronext stock exchange says trading was halted Friday morning at the regulator's request.
The French government is cool to the idea of a buyout of a company that pioneered TGV high-speed trains, later exporting them around the world, and builds nuclear turbines.
Economy Minister Arnaud Montebourg, who has fought against American companies seeking to buy French rivals, told Le Monde on Friday the government is "working on other solutions" for Alstom.
Alstom says it hasn't been informed of an offer.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Buddy's new owner says she fears for her life, but won't return the dog
PETA Targets Needle
After seeing overweight people in the elevator, PETA wants the Space Needle to 'go vegan'
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.