Atos Boosts Cash Needs to €1.7 Billion, Seeks to Cut More Debt [BNN Bloomberg (Canada)]
AIRBUS SE UNSP/ADR (EADSY)
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Source: BNN Bloomberg
Atos needs €1.1 billion ($1.2 billion) to run its business in 2024 and 2025 from €600 million earlier, it said in a statement Monday. It is also seeking to reduce its debt by €3.3 billion, compared to a previous plan of €2.4 billion. The Paris-based company had to revise an earlier plan that sought €1.2 billion of new money to fund the business through 2025 and cut debt by roughly half, after first quarter performance was hurt by customers postponing signing contracts. Atos also delayed by a week to May 3 a deadline for stakeholders to file restructuring proposals. Among them, the French government has already sent an offer letter to the company proposing to take over parts of the company that the state considers to be strategic, Finance Minister Bruno Le Maire said on Sunday in an interview on LCI television. France's government intends to bring private companies into a consortium should the offer proceed, Le Maire said. He didn't specify which companies but said they would al
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