Bouygues to take €1.4B charge on Alstom stake

|About: Alstom ADR (ALSMY)|By:, SA News Editor

Bouygues (BOUYF) will book a €1.4B ($1.92B) writedown on its 2013 results in connection with its 29.3% holding in Alstom (ALSMY) after the latter's shares slumped 37% in the past year.

However, the move will have no effect on the cash position or operating performance of the conglomerate.

Bouygues' writedown follows a profit warning from Alstom last last month.

Bouygues now values the stake at €3.08B.