Atos Cancels €720 Million Rights Sale; Stock Hits Record Low
- French IT company’s plunged as much as 30% to a record low
- Atos requested court-appointed mediator for refinancing talks
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Embattled French IT company, Atos SE, dropped plans to sell €720 million ($777 million) in equity rights and said it’s seeking a mediator to help negotiate a refinancing with lenders. The shares plunged as much as 30% to a record low.
Conditions for the rights offering were “no longer applicable” and a commitment from BNP Paribas and JPMorgan to underwrite the deal isn’t in effect anymore, Atos said in a statement on Monday