Alstom India shares jump 8% on GE buyout talks
Alstom India share rose as much as 8 per cent on the NSE on media reports that US conglomerate General Electric was in talks to buy its parent for about $13 billion.
Alstom India is a subsidiary of French turbine and train maker Alstom.
According to reports, the deal may be announced as early as next week. Shares of Alstom jumped 10.9 per cent on Thursday on NYSE.
According to a newspaper report, the power division of Alstom was GE's main target. GE has bet heavily on Alstom's "power and water" segment, which is one of the conglomerate's top revenue generators along with jet engine.
This deal would also help Alstom strengthen its finances at a time when it faces an investigation by the US Justice Department for alleged bribery, the reports said.
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