Atos Picks Onepoint Over Kretinsky for French Firm’s Bailout (1)

Atos SE chose a bailout proposal from a group led by David Layani’s Onepoint, its top shareholder, that will help the troubled French IT company avoid a breakup.

Onepoint’s proposal, which includes new equity and reduced debt, has the support of the board and the company will now seek to reach a final agreement with its creditors by July, Atos said in a statement on Tuesday. The Onepoint-led bid was also backed by Butler Industries and Econocom Group SE.

Daniel Kretinsky

Photographer: Joel Saget/AFP/Getty Images

Layani beat out a second bid from billionaire Daniel Kretinsky’s EP Equity Investment, which targeted a ...