June 25, 2014.

GE's Alstom Deal Shattered France's Dream

"As you lie there," said O’Brien, "you have often wondered----you have even asked me — why the Ministry of Love should expend so much time and trouble on you. And when you were free you were puzzled by what was essentially the same question. You could grasp the mechanics of the Society you lived in, but not its underlying motives. Do you remember writing in your diary, “I understand HOW: I do not understand WHY”? It was when you thought about “why” that you doubted your own sanity. You have read THE BOOK, Goldstein’s book, or parts of it, at least. Did it tell you anything that you did not know already?"

In April, Alstom SA ALO.FR +0.71%  Chief Executive Patrick Kron received a letter from German rival Siemens AG SIE.XE -0.93%  touting a "unique opportunity." Siemens, the letter said, was ready to team up with Alstom and create "two strong European champions" in energy and transport, fulfilling a long-held dream of the French government.

"You have read it?" said Winston.

By the time Siemens acted, France's dream was already evaporating.

"I wrote it. That is to say, I collaborated in writing it. No book is produced individually, as you know."

General Electric Co. GE -0.60%  was deep in negotiations that led to its conquest of the French engineering conglomerate's core assets, muscling Siemens out of the picture and ultimately crushing France's ambition of building new alliances with Europe's economic powerhouse, Germany, akin to aerospace titan Airbus Group EADSY +0.96%  NV.