Atos gets a reprieve with restructure plan from Onepoint consortium

Atos has opted for a bailout proposal led by its largest shareholder Onepoint to put the company on a firmer financial footing with the injection of capital and a plan to transform it over the next five years. The ailing IT services biz, which has struggled with debt, declining revenues and mounting losses, chose the …

[HuBo]

Great to see an increased likelihood of stabilty in Atos' long-term outlook!

[Anonymous Coward]

positive news, my arse !

"If nothing else, the positive news provides some certainty around Atos's fate."

LOL, a proposal with almost 0 new money while the company is virtually bankrupt, rated CCC by S&P and internally struggling to pay anything to vendors even with 3 months paiements terms. It even had to borrow from the state to pay last month's salaries !

A proposal with 0 commitment by a company who never publishes it's numbers (onepoint), is said to have 10 times the debt/yearly revenue ratio than ATOS.

Finally, the deal will have a crazy 13% interest rate on any borrowed money.

Layani relied on his political friends and got a blank cheque to acquire ATOS on a blanket proposal.

Nope, there is 0 certainty in this. Well, there is one: ATOS has less than 1 year to live, same with onepoint.

Anon, cos I'm still working for ATOS.

[Anonymous Coward]

Re: positive news, my arse !

I am also an Atos worker and have to say I agree with your assessment. I think at best, this deal delays bankruptcy and the break up of the company by a year.

[Like a badger]

"The proposal aims to transform Atos over the next five years into a big dog"

Isn't that what Atos senior management have spent the last decade actually achieving?

[Anonymous Coward]

Re: "The proposal aims to transform Atos over the next five years into a big dog"

I think you mean trying but failing.

Look at the ridiculous acquisitions they have made, fools.

[Anonymous Coward]

Re: "The proposal aims to transform Atos over the next five years into a big dog"

IIRC it was a foolish acquisition, blindly trying to break into the US market, that sunk Sema shares way back when and led to them being sold to Schlumberger at a knock down price - yet they didn't learn from that error.