Bouygues hints at selling telecoms arm to fund Areva purchase

16 Nov 2006

French construction group Bouygues is considering selling its communications unit Bouygues Télécom in order to fund the acquisition of Areva SA, a state-backed multinational conglomerate that deals in energy and especially nuclear power installations, should the government decide to sell the company. Bouygues said it would think very carefully before selling off its telecoms assets and that currently it is ‘happy’ with the unit’s performance. The group, which has already bought a stake in Alstrom, a company which builds power stations in France, said the sale of Bouygues Télécom was one of several options on the table, although ‘no conclusions’ would be made until after the next elections, scheduled for April and May.

France, Bouygues Telecom