Bouygues dismisses telecoms unit sale rumour, but TF1’s future less clear

15 Mar 2007

The French industrial group Bouygues has rejected rumours that it is preparing to sell its Bouygues Telecom unit, but says it may offload its stake in TV broadcaster TF1 and buy Lagadere’s equity holding in aerospace giant EADS. Commenting on a report by business weekly Challenge, Bouygues said: ‘Bouygues views as extravagant these rumours, which have no basis.’ Industry watchers have been speculating that Bouygues might sell the telecoms operation, whose profits have been under pressure, in order to pursue a takeover of Alstrom, a company which builds power stations in France, in which it currently has a 25% stake.

France, Bouygues Telecom