LONDON : France's Thales is working on a plan to buy the cybersecurity business of IT consultancy group Atos, which could be worth about $3 billion, despite expectations of French government opposition to any break-up, sources told Reuters.
Shares in Atos slumped to their lowest level since mid-2012 after it issued two profit warnings in seven months, becoming an attractive targets for private equity investors. Thales' advisers have also begun talks with CVC Capital Partners and PAI Partners over a possible joint bid for Atos but the timing of such a move remains unclear, another said.The French finance ministry did not immediately respond to a request for comment.
BDS is valued at between 2 and 3 billion euros and accounts for about half of Atos' overall revenue, the source added.
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