Sarkozy close to Alstom banking deal

French finance minister Nicolas Sarkozy is on the verge of completing a banking finance deal for Alstom – with an announcement expected on Wednesday night.

"I hope we will be able to announce a deal with the banks this evening," Sarkozy told the French National Assembly.

Sarkozy added that the rescue deal struck with EU competition commissioner Mario Monti was a “good plan” as it averted the structural break-up of the company.

The new rescue projects for an extra €2.5 billion into the engineering firm.

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