Atos Expands Restructuring Talks After Airbus Deal Collapsed [BNN Bloomberg (Canada)]
AIRBUS SE UNSP/ADR (EADSY)
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Source: BNN Bloomberg
The process will last four months and can be extended by one month according to French law, Atos said in a statement on Tuesday. It will present its refinancing framework to creditors during the week of April 8, it said. The problems at Atos, a strategic company in France due to its ties with the nation's military and nuclear industry, swelled after several failed attempts to raise cash for debt payments. Talks to sell its legacy IT services unit to Czech billionaire Daniel Kretinsky's EPEI ended without a deal, and Airbus SE this month walked away from a deal to buy its big data and cybersecurity business. Read More: Struggling IT Firm Atos Faces Debt Wall as Airbus Talks Fail “We're all working toward the same goal, with all our creditors working with us,” Atos Chief Executive Officer Paul Saleh said on a call with reporters on Tuesday. “On this point I have no worries, we'll come up with a global solution by July.” Atos said it has sufficient liquidity to operate the busin
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