TCI boss Hohn wants Airbus to ditch Atos deal
Christopher Hohn, founder of the London-based hedge fund TCI Fund Management, has written to European aerospace giant Airbus demanding that the company ditch its plans to acquire a minority holding in Evidian, a division of Atos, which is soon to be spun off from the French IT consulting firm.
TCHI (TCI) currently owns a holding of more than 3% in Airbus worth over €4 billion.
The report cites a public letter, first published on Monday by the Financial Times, as revealing that Hohn regards Evidian as a "highly levered" business and that acquiring a stake would "dilute the quality of Airbus’ business.”
Airbus has reportedly submitted an offer to acquire a 29.9% stake in Evidian, but according to a spokesperson for the firm, it will also engage in an “in-depth due diligence period and will refine the details of its potential agreement with Evidian”.