Within the government, Airbus’ candidacy for the future Atos subsidiary, Evidian, meets with little enthusiasm. Discreet voices criticize the influence and power of the Germans in the group. And especially in its subsidiary dedicated to defense activities “Airbus Defense and Space” whose headquarters are in Bavaria.
A handicap, while Airbus proposes bringing it closer to Evidian which, starting next summer, will bring together Atos’ cybersecurity, digital and supercomputer businesses. The government remains “attentive” to this so-called branch of “national sovereignty” while working with NATO and the French military.
“Airbus is undervalued in the Ministry of the Armed Forces since the fiasco of the plane of the future,” adds another source involved in the future of Atos. The aircraft manufacturer was perceived as defending German interests in its confrontation with Dassault over this European project. The Ministry of Economy is more nuanced but distances itself.
Airbus more German than French
A contrast that contrasts with the support for its rival Thales in which the State holds 26%. The group led by Patrice Caine is also a candidate for the acquisition of Atos’s cybersecurity activities. But its president Bertrand Meunier rejects an alliance with Thales. In any case, “the government has never expressed its preference to us” they assure us in Atos.
“It is true that we are seen as European, while Thales is seen as uniquely French,” a senior Airbus executive deciphers. “Our defense activities have a German vision.”
It is for this reason that Airbus has taken the lead. The aircraft manufacturer has been interested in Atos for over a year, as BFM Business revealed last March. He proposes to acquire 29.9% of the capital of Evidian, according to Les Echos, to meet Atos’s requirements, while Thales is only interested in cybersecurity businesses.
Sycomore shareholder calls for tender
The battle between the two French groups delights Atos shareholders. They intend to take the opportunity to raise the bet while the stock market has fallen 75% in one year. But they fear that Atos will favor Airbus to escape the clutches of Thales. “If the management wants to open the capital of Evidian, it must launch a tender for all the candidates,” explains Cyril Charlot, manager of Sycomore, one of the most active minority shareholders. -counter transaction”. Hervé Lecesne wants to stay positive but does not say anything else. He is part of a small group of investors that represents almost 5% of the capital of Atos. “It is a bit early and everyone is waiting for the publication of the annual results of 2022, he confesses, but the negotiations are advancing ”.
From Atos we promise that the “process is open to all those who have projects to propose, but Airbus is part of our project to create Evidian”. The reality seems quite different. “We’re the only ones arguing,” says a close Airbus friend. According to our information, the aeronautical group has even commissioned Ernst and Young and Alvarez & Marsal to start auditing Atos’ accounts.
A great advantage when, according to various sources, neither Thales nor One Point is discussed. TI’s “little thumb” had proposed a €4.2bn takeover bid for Atos’ digital, cyber and “big data” activities in November. Worse still, according to our information, the president of Atos rejected a new approach from One Point boss David Layani before the holidays. Instead, in October he received Thales CEO Patrice Caine to tell him that he would not sign a transaction before the creation of Evidian next June… For now, Airbus is alone in the race that will last until next summer.
Source: BFM TV
