Bryan Garnier - Atos SE (ATO) ATOS: Does a spin-off of the Managed Services business make sense like for IBM? | CONVICTION BUY | EUR111

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Bryan Garnier

Gregory Ramirez

ATOS: Does a spin-off of the Managed Services business make sense like for IBM? | CONVICTION BUY | EUR111

ATOS - CONVICTION BUY | EUR111(+63%)
Does a spin-off of the Managed Services business make sense like for IBM?

IBM launched the spin-off of its Managed Infrastructure Services
Atos’ managed services are not as dilutive as those of IBM
We dismiss a spin-off scenario for Atos due to Spring and RACE

09/10/2020 4 EN

Underlying

Atos SE

Atos is an international information technology services company operating in 52 countries. Co.'s customers are sectors like Public Sector and Utilities, Telecoms and Media, Financial Services, Process Industries and Discrete Manufacturing and Consumer Products and Retail. Co. operates in seven geographical segments: Germany; France; Benelux and The Nordics; U.K. and Ireland; Atos Worldline; Central & Eastern Europe; North America; Iberia; and Other Countries. Co. delivers IT services through the following five segments: Managed Services, Systems Integration, Consulting, Worldline: ePayment Services, and Cloud & Enterprise Software.

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FR0000051732 Euronext Paris France

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Gregory Ramirez

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