PARIS, June 24 The French state has enough cash
available from previous share sales to fund the purchase of a 20
percent stake in Alstom, Economy Minister Arnaud
Montebourg said on Tuesday.
The French state secured an option to buy 20 percent of
Alstom from its current top shareholder Bouygues on
Sunday, clearing the way for an agreed tie-up between Alstom and
"Following the sale of (shares in) Airbus, Safran
and Aeroports de Paris, we now have over 2
billion euros that will be used to take that stake in Alstom,"
Montebourg told France's lower house during question time.
Shares in Safran, EDF, Orange and Airbus
had on Monday been the worst performers on the Paris stock
exchange, as traders feared the government would need to sell
shares in those companies to fund the purchase.
(Reporting by Jean-Baptiste Vey; Writing by Natalie Huet,
Editing by dominique Vidalon)