Struggling French IT consulting firm Atos on Thursday said a review of its 2024-2027 business plan would lead to an increased need for cash and potentially additional debt reduction, forcing it to update the parameters of its refinancing plan in the coming days.

The debt-laden group, which specialises in spy-to-AI assets deemed strategic by the French government, also extended the deadline for refinancing proposals from existing stakeholders and third-party investors from April 26 to 3 May.

Atos announced earlier this month that it was seeking more than 1 billion euros ($1.07 billion) in equity and loans to deal with a debt that stood at 4.65 billion euros at the end of last year.

  - Reuters