By Mauro Orru

Airbus SE will no longer pursue discussions to acquire a minority stake in Atos SE's cyber business Evidian, saying a deal under the current structure wouldn't be in its interest.

A spokesman for the European plane maker confirmed the decision in a statement to The Wall Street Journal on Wednesday, saying the group wasn't interested in buying a 29.9% stake in Evidian.

"However, Airbus and Atos continue to discuss other potential options and pursue the work on the long term strategic and technological partnership between Airbus and Evidian which has the potential to create significant value for both companies," the spokesman said.

French news channel BFMTV reported earlier Wednesday that Airbus was unsatisfied with the price and the structure of a potential deal.

Airbus had made an offer to buy a minority stake in Evidian last month, though the companies didn't disclose financial details. Last year, Atos rejected a letter of intent from French information-technology consultancy firm Onepoint for the potential acquisition of Evidian based on an enterprise value of 4.2 billion euros ($4.56 billion).

At 0920 GMT, Atos shares traded 16% lower at EUR10.80.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

March 29, 2023 05:41 ET (09:41 GMT)

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