Bouygues, the French construction, telecoms and media group, has sold almost half its stake in Alstom, one of the largest manufacturers of rolling stock in the world, after the European Commission blocked a plan to merge the company with Siemens’ trains business earlier this year.
The sale consisted of 29.15m shares, a 13% stake in Alstom. Launched after the market close on Wednesday, following a limited wall-crossing exercise, it took less than hour an hour for the deal to be covered. It was subsequently priced at €37, a 6% discount to the
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