Atos Ends Talks with Daniel Kretinsky over Tech Foundations Division Acquisition

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Atos Ends​ Negotiations with Daniel​ Kretinsky’s EPEI

French technology company‍ Atos has terminated negotiations ​with EP Equity Investment (EPEI), owned by Czech businessman Daniel ⁣Kretinsky,​ regarding ‍the acquisition of its loss-making consulting division, Tech Foundations. Atos announced on Wednesday that they⁢ were unable to reach an agreement with Kretinsky. According to Reuters, this marks Kretinsky’s ​first major setback in France, ⁤where he has completed a series of acquisitions.

Failed Deal with EPEI

The discussions with EPEI about​ the‍ potential ⁣sale of Tech Foundations ended without reaching an agreement, Atos​ stated. ⁢The parties were unable to agree‌ on ⁢the proposed terms of⁣ the new contract and ​the price.

Previous Announcement

At the beginning of last August, Atos announced that it had entered into exclusive negotiations with Kretinsky’s EPEI for the⁤ sale of Tech ‌Foundations. They added⁤ that as part of the transaction,​ they were expected to receive 100 ‍million euros ⁢(2.5 billion crowns) in cash and transfer a debt of 1.9 billion euros to the⁤ company EPEI.

Financial Discrepancies

Bloomberg, citing⁣ informed sources, reported in ⁤January⁣ of this year that Atos was demanding over half a ⁣billion euros in cash from the Czech entrepreneur for its Tech‍ Foundations division, more than originally​ anticipated.

Criticism and Market Reaction

The transaction has faced criticism from some French lawmakers and some Atos​ shareholders. Kretinsky is ​one of the most influential ⁢figures in Czech business, controlling ⁢a number of ‌industrial, commercial, financial, and media companies in the Czech Republic and abroad.

Atos’ shares on the Paris stock exchange were up around three percent⁢ early on Wednesday morning.