(Boursier.com) — At the bottom of the list, Atos lost 4.4% to 13.1 euros at midday. The hedge fund TCI sent a letter to Airbus demanding that it give up its plan to take over 29.9% of the capital of Evidian. The digital services company announced last week that it had entered a new phase of non-exclusive discussions with Airbus with a view to concluding a long-term technology agreement and selling the European aircraft manufacturer a minority stake of 29.9%. in its future branch of digital and cybersecurity activities Evidian.
In a public letter addressed to the aerospace giant, and initially disclosed by the ‘Financial Times’, Christopher Hohn, the fund’s famous leader, declares that Evidian is a “very indebted company” and that investing in it “would dilute the quality of the activities of Airbus”. TCI, which owns more than 3% of the capital of Airbus, adds that “it would be tied up capital and an extremely inefficient use of shareholder funds”. According to the investor, “Airbus can continue to maintain a mutually productive and profitable relationship with Evidian without taking an equity stake. Not being a reference shareholder does not prevent increased collaboration between the two companies”.
“The transaction appears to be a bailout of Atos, a company that is burdened with unsustainable levels of debt and other liabilities…If such a transaction with Evidian is completed and there is evidence that it will is, in part, a politically motivated and justified transaction, then all directors could breach their fiduciary duty and we reserve the right to sue for damages for shareholders and to hold directors personally liable for this damage,” the fund concludes. A new episode that Atos would have done well.
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