France secures option to buy Alstom stake from Bouygues

PARIS, June 22 Sun Jun 22, 2014 2:16pm EDT

PARIS, June 22 (Reuters) - The French state has secured an option to buy 20 percent of Alstom from Bouygues , Economy Minister Arnaud Montebourg said on Sunday, clearing the way for an agreed tie-up between Alstom and General Electric.

"We have a purchase option that enables us to buy when the price is as low as possible," Montebourg told France 2 television.

Bouygues will meanwhile lend the shares to the French state so that the government can exercise an immediate role as an Alstom shareholder, he added. (Reporting by Laurence Frost and Ingrid Melander; editing by Mark John)

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