Bouygues snaps up 30.07 percent of Alstom's capital

0 Comments | AFP, October, 2007

PARIS (AFP) — French construction firm Bouygues said Friday it had acquired 30.07 percent of French engineering company Alstom after snapping up shares over the past few months.

Bouygues said in a statement its shareholding had growth from 25.35 percent on June 30 to 30.07 percent on October 5.

Since Bouygues took a share in Alstom's capital and the creation of a joint venture in the market for hydro-electrical power stations in 2006, there have been recurring rumours of Bouygues' wish to increase its capital in Alstom.

Alstom declined comment when questionned by AFP. An official at Bouygues said that "we are not prevented from continuing to benefit from market opportunities."

Bouygues' move comes after earlier this year the French government hired...