By Nick Kostov

PARIS--France said Monday it could increase its stake in French industrial group Alstom SA after an agreement with conglomerate Bouygues SA went into effect.

Following the Bouygues pact, the government will have voting rights equivalent to 20% of Alstom's share capital and be represented by two administrators on its board of directors.

"The state has a series of options allowing it to acquire, if it wishes, the shares currently loaned by Bouygues," the French economy ministry said in a statement.

In 2014, General Electric Co. agreed to acquire most of the French firm. The French government, which had been reluctant to let the industrial jewel fall into U.S. hands and potentially threaten French jobs, struck a deal to purchase a stake in Alstom SA from Bouygues.

(END) Dow Jones Newswires

February 08, 2016 15:00 ET (20:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Alstom (EU:ALO)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Alstom Charts.
Alstom (EU:ALO)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Alstom Charts.