Atos - comment

The soap opera that is Atos continues.  Creditors now have the opportunity/obligation to go it alone, as David Layani and OnePoint are forced to drop out of their participation.  It appears that Butler Industries and Econocom have baulked at the scale of the required restructuring and are no longer backing OnePoint, resulting in creditors standing alone now.  EPEI (Kretinsky) have indicated their willingness to restart discussions, but creditors will prefer to go this alone, and “do not need Daniel Kretinsky to break up the group”.  

Creditors have a deadline of the end of the week to reach an in-principle financial restructuring (and namely find the additional monies that OnePoint were going to provide).  A lock-up agreement will be in place the week commencing July 8th. 

Separately, EPEI's (Kretinsky) letter to the Company reiterating its interest in participating in the financial restructuring will be made public today.