After rebounding at the opening, Atos shares lost ground again on Wednesday, as uncertainty surrounding the company's future outweighed yesterday's reassuring remarks by the French government.

At around 10:45 a.m., the stock was down 1% after starting the session with gains of more than 5%.

The stock had finished down more than 19% on Tuesday after it was announced that discussions with Airbus concerning the possible sale of BDS, Atos' data analysis and cybersecurity division, had been abandoned.

The press release, reduced to its simplest expression, does not explain the reasons for the termination of discussions, which is bound to fuel doubts about the quality and valuation of this asset, presented until recently as the group's nugget", worry analysts at Invest Securities in a note.

If Airbus does not take over BDS, it will be difficult to envisage a private alternative for the acquisition of BDS", adds the research firm.

The impact of these concerns outweighs the hopes placed in the rather reassuring statements made last night by Bruno Le Maire, the French Minister of the Economy and Finance.

With regard to Atos' sensitive activities, in particular Big Data & Security (BDS), the head of Bercy said he wanted to build 'in the coming weeks' a 'national solution' to protect strategic activities.

The State's constant priority is to support the Atos group and find solutions to stabilize its financial situation and give all the necessary visibility to stakeholders, in particular the company's employees", Bruno Le Maire said.

Despite these reassuring words, analysts at Invest are talking about "maximum" uncertainty regarding the future of the technology group.

Following the breakdown of discussions with Daniel Kretinsky concerning the sale of Tech Foundations, this latest setback reinforces the uncertainty surrounding the group's financial restructuring and reduces visibility to zero", the research firm points out.

According to Invest, this uncertainty is above all blocking negotiations with banks aimed at refinancing the group, a problem which it believes will start to become critical as important deadlines loom from next autumn onwards.

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