(Bloomberg) -- French IT services firm Atos is in “advanced discussions” to amend certain terms of the deal to sell Tech Foundations to Czech billionaire Daniel Kretinsky’s EPEI, the company said in a statement on Tuesday.

The firm said it’s assessing debt and equity markets to raise funds, and is also considering further asset disposals to address upcoming maturities. It faces repayment on a €1.5 billion ($1.6 billion) term loan A coming due in January 2025 and €750 million bonds that mature in May 2025.

The fresh momentum follows snafus in recent months as political opposition grew to a deal that would have handed Kretinsky a 7.5% stake in Atos’s core business Eviden. Some minority shareholders were also opposed to the sale as part of the turnaround plan.

Shares in Atos have plunged to around €6 on Tuesday from €14.6 July 27, right before the company reported negative free cashflow of almost €1 billion for the first half of the year and before discussions were announced. Kretinsky offered €20 per share on Aug. 1.

In October, EPEI told Atos it was ready to renegotiate the deal to improve the terms, drop the Eviden investment and reflect the surplus of the transaction on the Tech Foundations business, according to people familiar with the matter, who asked not to be identified as they aren’t authorized to speak about it. 

The company, which reshuffled management in mid-October, proposed improved terms last week, one of the people said. 

A representative for EPEI declined to comment, while a spokesperson for Atos wasn’t immediately available.

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