- Dramas elevate Iran cinema but it's comedy that sells
- Fury unsure on rematch after Usyk inflicts his first defeat
- Taiwan coast guard ramps up island patrols ahead of inauguration
- 'Maldives what?': Saudi fashionistas attempt beach rebrand
- Dallas rally to down Thunder, reach NBA Western Conference finals
- The French 'Erin Brockovich' vs Goodyear
- History-chasing Man City eye Premier League title 'destiny'
- Body of second missing Mongolian climber found on Everest
- Campana's late stunner gives Miami victory over D.C.
- Iraq father begins legal action against BP over son's cancer death
- Dominican Republic's vote is dominated by Haiti crisis
- Blue Origin flies thrill seekers to space after two year hiatus
- Biles launches Olympic year with impressive Core Hydration Classic win
- Usyk in tears for late father after historic heavyweight win
- Can we rid artificial intelligence of bias?
- Forgotten D-Day cameramen out of shadows, 80 years on
- Hollywood battles aging -- in film reels
- 'Blood in the water' for record low scores in PGA final round
- Usyk beats Fury to become undisputed world heavyweight boxing champion
- Seize the Grey wins Preakness for 88-year-old trainer Lukas
- Lowry's 62 equals low major round as Schauffele, Morikawa lead PGA
- Second major win would mean a lot for danger-man Lowry
- Tourists wounded in deadly Afghanistan shooting are stable: hospital
- Lowry matches low major round with 62 as Schauffele leads PGA
- Top-ranked Korda takes LPGA lead at Liberty National
- Benjamin wins LA 400m hurdles in blistering 46.64sec
- Ahly stay on track for 12th title after holding Esperance
- Three Spaniards, three Afghans killed in shooting in Afghanistan
- Canadian oil city lifts wildfire evacuation orders
- Schauffele clings to PGA lead as Lowry makes epic charge
- Swiatek 'staying humble' for French Open after third Rome title
- Chinese director Jia mines leftover footage for top Cannes film
- Zelensky expects Russia offensive in northeast Ukraine to intensify
- Bengaluru win six in row to make IPL play-offs, Chennai out
- Klopp joins social media to cement Liverpool 'love affair'
- Bengaluru beat Chennai to seal IPL play-off berth
- Inter chief Zhang says 'stability' threatened by debt deadline
- Santa Claus helps Celtic celebrate Scottish title
- UN says 800,000 have fled fierce fighting in Rafah
- Formula One pays tribute to Senna, 30 years after tragic death
- S.Africa's Zuma stages rally despite candidacy doubts
- Narco sex-change musical early favourite at Cannes
- Olympic champion Jacobs wins on Rome return
- Schauffele tees off with lead at PGA with Scheffler close behind
- Sale stun Saracens to secure play-off spot despite Tuilagi injury
- Seven fashion moments on the Cannes red carpet
- 'We want it over', says Mueller after Bayern hit 13-year low
- 'Can I kill someone?': Richard Gere's dilemma in 'Oh, Canada'
- Ferrari under-estimated rivals pace at Imola - Leclerc
- Leverkusen become first team to complete Bundesliga season unbeaten
Struggling French tech group Atos weighs financial lifelines
Struggling French tech group Atos, an Olympics partner and key French defence contractor, said Monday it would make a decision on financial restructuring offers by May 31.
Atos -- which runs supercomputers for France's nuclear deterrent, holds contracts with the French army and is the IT partner for the Paris Olympics -- is sagging under almost five billion euros ($5.4 billion) of debt.
The group said last week it now needs 1.1 billion euros in cash to stay afloat in the 2024-2025, up from a previous estimate of 600 million euros. It is also seeking to slash its debt by 3.2 billion euros.
Atos said in a statement on Monday that its board had received four financial restructuring offers on Sunday.
The proposals were made by US investment firm Bain Capital, Czech billionaire Daniel Kretinsky's Equity Investment, top shareholder Onepoint, and a group of bondholders and banks.
Atos said it had rejected Bain Capital's offer but would work with its creditors to choose one of the other proposals by May 31, with the aim of reaching a final restructuring agreement by July.
The Olympics begin on July 26 but Atos has insisted that its financial woes would not disrupt its operations during the Games, for which it will provide real-time results and manage more than 300,000 accreditations.
"We will now work with our financial creditors to find a solution by May 31 that will be acceptable to them and consistent with the parameters we have shared," Atos chief executive Paul Saleh said.
"I am confident that a final agreement can be reached by the July target that would assure the continuity of operations to our clients and be in the best interest of Atos' employees, clients, suppliers, creditors, shareholders and other stakeholders," he added.
The group warned that any agreement "will likely entail radical changes in the capital structure of the company" and the issuance of new shares that will greatly reduce the stakes held by existing shareholders.
Atos also said it was in talks with the French state over its plans to acquire strategically-important company activities, including advanced computing, "mission-critical systems" and cybersecurity products.
K.Thomson--BTB