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June 21, 2014 AT 7:20 AM
President Francois Hollande said the French government expects to see rapid progress in talks on the purchase of an Alstom stake from Bouygues. He was speaking a day after France backed a tie-up between Alstom and U.S. rival General Electric on condition the government acquires 20 percent of the company from Bouygues. Hollande told reporters "This is a major condition for the government's acceptance of the alliance. That's why I believe we will make progress by the end of the day."