PARIS (Reuters) – IT consultancy group Atos, which has been in the spotlight on accounting issues at two U.S. units, said on Tuesday it contacted France’s financial markets watchdog after a new investor took a significant stake in the company.
The French IT group said it had concerns about the shareholder but declined to give further details.
A May 17 regulatory filing shows that Finsur Corp, described as a US company owned by Dylan Dariah and registered in the state of Delaware, disclosed a 5.08% stake in Atos in France. According to the Autorité des marchés financiers (AMF website), Finsur Corp’s stake has now fallen to 4.23%.
Company filings in France show that Finsur, which had been registered as a company in the country in 2019, was no longer active as such as of February 2020.
A spokesperson for Atos, which develops solutions in areas such as cloud services and big data, confirmed that the company had contacted the AMF. BFM Business reported the move earlier.
“We had doubts about this shareholder,” said the spokesperson, without giving details.
The AMF did not immediately respond to requests for comment. Reuters was unable to independently contact Finsur and its representative in France. BFM Business said it had received no response.
Atos revealed in April that auditors found accounting errors in two US units, driving down its shares at the time. They are down 26% so far this year.
The company said it will conduct a full accounting review of the two U.S. units and provide a status update when it releases first-half results on July 28.