Space Travel 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
MILPLEX
New analysis suggests lack of subglacial lake on Mars

NASA explores new Mars Sample Return concepts

Martian Polar Ice Flow Mystery Finally Explained

Mars' subsurface ice could be a key to sustaining future habitats on other planets

MILPLEX
Chang'e-6 highlights China's goal to build international collaboration

Nagoya University Develops Advanced Heat-Switch for Lunar Rovers

Lunar Samples Transferred for Return to Earth

National Flag Unfurled on Moon Made of Basalt Fibers

MILPLEX
Understanding Cyclones on Jupiter Through Oceanography

Unusual Ion May Influence Uranus and Neptune's Magnetic Fields

NASA's Europa Clipper Arrives in Florida for Launch Preparation

New Earth-Based Telescope Images of Jupiter's Moon Io Match Spacecraft Quality

MILPLEX
Giant viruses discovered on Greenland ice sheet

Planet-forming Disks Around Low-mass Stars Show Unique Characteristics

NASA's Webb Telescope Observes Potentially Habitable Exoplanets

Newly Discovered Planet Retains Atmosphere Despite Star's Intense Radiation

MILPLEX
Boeing Starliner spacecraft springs more leaks on way to ISS

Rocket Lab plans 50th Electron mission to deploy five satellites for Kineis

Galactic Energy Launches Third Rocket in 10 Days

Stealth gas contracts awarded amid high profile crewed Starliner mission

MILPLEX
China sees commercial sector as next frontier in US space race

China Open to Space Collaboration with the US

Shenzhou 18 crew conducts first spacewalk

Zebrafish on China's space station reported to be in good condition

MILPLEX
Humanity's climate impact like dinosaur-ending meteor: UN chief

Asteroid Dinkinesh Shows Complex History in Lucy Flyby

ESA Tests Guidance Systems for Hera Asteroid Mission

Asteroid Dinkinesh Has Dual Moons, Researchers Discover

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.