The Bouygues family has upped its stake in the family business ahead of a planned entry into the ADSL market in France.
The company’s mobile operator – Bouygues Telecom – has announced that it will launch ADSL internet and phone services in France through its Bbox home gateway on 20 October.
Bouygues is the last operator, after Orange and SFR, to launch its own ADSL internet offer. France Télécom still holds a 50% market shares and 7.84 million customers, which makes entry into the market difficult for minority players.
The family’s holding company – SCDEM – boosted its stake in conglomerate Bouygues to 16.79% through stock market share purchases earlier this month, regulator AMF has revealed in a statement.
The family also boosted its voting rights in the construction, mobile telephony and media company to 25.02%. SCDEM is controlled by CEO Martin Bouygues and deputy CEO Olivier Bouygues.
The company, which is also the world’s second-largest construction company, recently filed a two percent rise in second-quarter net income to €477 million. The company said the group’s construction units helped offset lower earnings at its media businesses.