Shares down almost 8% in flat market (Il Sole 24 Ore Radiocor) - Paris, 13 Jun - Shares in French IT company Atos continued to slide as it continues to work on its financial restructuring, holding talks with stakeholders and giving some clarity on which creditors and bond holders can take part in which particular parts of the company's refinancing.

At 0735 GMT, Atos shares were down 7.65% at 0.71 euros while the CAC40 was 0.41% lower. In the past five days, Atos shares have lost almost 40% of their value, and almost 90% since the beginning of the year.

Atos said Tuesday it decided to proceed with the financial restructuring proposal submitted by its main shareholder Onepoint and its consortium partners including Butler Industries and Econocom, and a group of some of the company's financial creditors.

Atos said it would "inform its creditors of the terms and conditions under which they may participate in the New Secured Financings, the Equity Financings and the timeframe according to which they may communicate their intention to participate." The implementation of the contemplated financial restructuring proposal will result in a massive dilution of the existing shareholders of Atos, who would hold less than 0.1% of the share capital.

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(RADIOCOR) 13-06-24 10:12:27 (0200) 5 NNNN