PARIS (Reuters) – Bondholders of French IT company Atos have rejected a buyout offer from Czech billionaire Daniel Kretinsky, French weekly La Tribune reported on Saturday.
The bondholders were reported to have cited Kretinsky’s plan to wipe almost all of the company’s debt and fears that he would break up the former blue-chip technology company, shares of which have lost 90% of their value over the past three years after a string of profit warnings, CEO departures and the collapse of potential asset sales.
Kretinsky’s offer was made by his EP Equity Investment (EPEI) fund in partnership with British fund Attestor. A spokesperson for EPEI-Attestor said that “EPEI is exclusively concentrated on saving Atos as we believe in our restructuring capacities”.
Atos did not respond to requests for comment but has said that it had retained three propositions for restructuring. These included one from French businessman David Layani, who is company’s biggest shareholder with an 11% stake, another from Atos bondholders and bank creditors, plus Kretinsky’s offer.
The company has said it will make a decision by May 31 before sealing an agreement by July.
(Reporting by Benjamin Mallet and Mathieu Rosemain; Writing by Layli Foroudi; Editing by David Goodman)
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