Atos shares plunge as rights issue pulled

(Sharecast News) - Shares in troubled French technology company Atos plunged by a quarter on Monday as pulled a €720m rights issue and entered talks with lenders. Atos said it had appointed a mediator to oversee refinancing talks with lenders. The company faces €2.25bn in debt payments next year.

Talks to sell Tech Foundations, Atos's loss-making IT consulting arm, to Czech businessman Daniel Kretinsky's EPEI group are ongoing, with "no certainty that these negotiations will result in an agreement", Atos said.

The group had warned in January that its free cash flow would be slightly below its initial target for the second half of 2023.

Reporting by Frank Prenesti for Sharecast.com