Atos says split to mid-2023

Atos plans to split into two publicly listed companies will be completed by mid- 2023, according to the French IT consulting group, contradicted an earlier report by French media BFM TV.

The French media BFM TV reported earlier on Tuesday that the split would be completed earlier than planned by the end of June.

The chairman of the group, Bertrand Meunier, said that the group would leave once the split is completed.

Atos said in its written statement that the remaining Atos entity would retain its current governance bodies Shares in Atos increased by 5.3 per cent at 1057 GMT.

The stock lost half of its market value last year after accounting errors and a failed attempt to acquire a U.S. company caused a loss of investor confidence and the departure of two of its bosses, Elie Girard and Rodolphe Belmer.

A minority shareholder called for Meunier to resign as Atos shares traded near 30 year lows amid scepticism about its restructuring plan.

The firm is considering spinning off and combining BDS with its services operations as part of the split-up.

The remaining part of Atos will include its declining IT infrastructure management services, which generated sales of 5.4 billion euros $5.33 billion last year.