Solar Energy News
MILPLEX
France makes 700-mn-euro offer for Atos security units
France makes 700-mn-euro offer for Atos security units
By Paul RICARD
Paris (AFP) June 14, 2024

Debt-laden tech group Atos said Friday the French state has made a 700-million-euro bid for its most sensitive businesses, including cybersecurity and supercomputers used for the country's nuclear deterrent.

The offer, equivalent to $750 million, comes weeks after Paris said it would not allow the French company's strategic activities from being taken over by foreign actors.

"We kept our word. I always said that we had to preserve Atos' strategic activities," French Economy Minister Bruno Le Maire told Franceinfo radio.

"We have taken our responsibilities to buy, with other companies that could be partners, the strategic activities of Atos and guarantee that these strategic activities remain under the total or partial control of the state and public authorities," Le Maire said.

Atos said in a statement that its board, under the aegis of a mediator, and management "will discuss this proposal with the French State" but cautioned that "no assurances can be made that the parties will successfully negotiate and enter into a definitive agreement".

Paris is seeking to acquire the group's activities in advanced computing, mission-critical systems and cybersecurity.

The company had said in late April that these businesses were valued between 700 million and one billion euros.

The offer also comes three days after Atos chose a financial rescue offer from a consortium led by its main shareholder, French-owned IT consultancy Onepoint, over a bid from Czech billionaire Daniel Kretinsky.

Onepoint's head, David Layani, warned in an interview with French business daily Les Echos on Wednesday: "We will do everything to protect the so-called ultrasensitive assets, but we will be very vigilant to ensure that they are not sold off".

- Olympics partner -

Atos shares soared more than 20 percent following Friday's announcement, though the stock price has lost a fifth of its value since the start of the work.

Atos, which holds contracts with the French army and is the IT partner for the Paris Olympics, is sagging under almost five billion euros of debt.

The group confirmed on Friday its goal of reaching a definitive bailout deal with the Onepoint consortium that would be implemented by July. The Olympic Games begin on July 26.

Onepoint's financial restructuring deal includes pumping 250 million euros in new equity into Atos, providing 1.5 billion euros in new debt and converting 2.9 billion euros of debt into shares.

The government has also provided a 50-million-euro loan to the company.

pr/may/lth/ach

Atos

Related Links
The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
MILPLEX
NATO to agree Ukraine support plan after Hungary given opt-out
Budapest (AFP) June 12, 2024
NATO chief Jens Stoltenberg and Hungarian Prime Minister Viktor Orban agreed on Wednesday that Budapest would "not block" plans for the alliance to play a bigger role in coordinating arms deliveries to Ukraine. In return, the Hungarian leader was given a guarantee that his country would not be obliged to contribute to an initiative for NATO to take over the role of overseeing arms supplies and training for Kyiv's forces from the United States. Stoltenberg said the deal cleared the way for NATO ... read more

MILPLEX
Sky's the limit for biofuels

Sustainable Aviation Fuel Reduces Non-CO2 Emissions

Vast Gets Approval for Solar Methanol Plant in Port Augusta

Singapore shipper claims milestone with bio-methanol refuelling

MILPLEX
AI tool creates deceptive Biden, Trump images, tests show

ChatGPT a mentor for Japan's 89-year-old app developer

Google to test AI phone theft features in Brazil

Elon Musk drops lawsuit against OpenAI and Sam Altman

MILPLEX
Why US offshore wind power is struggling - the good, the bad and the opportunity

Robots enhance wind turbine blade production at NREL

Offshore wind turbines may reduce nearby power output

Wind Energy Expansion Planned for China's Rural Areas

MILPLEX
China warns EU tariffs on EVs would 'harm' Europe's interests

China says 'reserves the right' to file WTO suit over EU car tariffs

Why are Chinese electric cars in EU crosshairs?

China's Evergrande EV ordered to repay $262mn subsidies, faces asset seizure

MILPLEX
New approaches for perovskite-based ferroelectric ceramics in energy storage

Safer and Flexible Battery Developed for Wearable Tech

DOE Unveils Decadal Strategy for Fusion Energy

New turbulence transition discovered in fusion plasmas

MILPLEX
Kyrgyzstan lifts uranium extraction ban despite concerns

High Assay Low-Enriched Uranium Fuel Poses Major Proliferation Threat

Sweden shortlists UK, US firms for new nuclear reactor

Bulgaria's nuclear plant starts to replace Russian fuel

MILPLEX
Pakistan power crisis deepened by mountain tourism

Swiss approve law boosting renewable energy generation

Swiss vote on renewable energy plan for 2050 carbon neutrality

Swiss renewable energy battle moves to the ballots

MILPLEX
Carbon credits protecting forests use flawed calculations: study

'All Eyes on Papua' campaign generates interest in deforestation cases

Indian Islamic centre warns Muslims against felling trees

DR Congo capital hosts forest forum

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.