In the context of the input sentence, determine the relationship between 'Bouygues' and 'Bouygues Telecom'.
Options: distributed by, publisher, owned by, subsidiary

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