Shares in beleaguered French IT company Atos fell close to 12% on Tuesday. The firm said it had chosen a rescue deal proposed by key shareholder David Layani, which is set to result in a major dilution of existing shareholders.
Struggling French tech group Atos, an Olympics partner and key French defense contractor, said Tuesday it had chosen a takeover offer by a consortium led by its top shareholder Onepoint.
Debt-laden Atos has picked the offer of its anchor investor David Layani to restructure its debt, Le Figaro newspaper reported on Monday.
Shares in the struggling French IT firm Atos tumbled on Monday as the company said it would pick between two rescue deals by Wednesday, June 5. The two restructuring deals on the table are led by Czech billionaire Daniel Kretinsky and key Atos shareholder David Layani.
Czech billionaire Daniel Kretinsky is looking at options to try to persuade creditors to side with him in the battle for Atos , a source close to the matter said, as the distressed IT firm seeks a debt restructuring plan by May 31.