Take context from the input text and decide on the accurate relationship between 'Bouygues' and 'Bouygues Telecom' from the options provided.
Options: owned by, distributed by, subsidiary, publisher

Secondly, structurally and the way Bouygues Telecom operates, which is something I explained to you regarding 2018 and 2019, Bouygues Telecom has a strategy that we roll out during the summer in the quiet periods.
subsidiary