Airbus shareholder TCI, a hedge fund, has demanded the French aerospace company drop plans to buy a near-30% stake in Evidian, a division of French consulting firm Atos. In a public letter by TCI chief, the British billionaire Christopher Hohn, Airbus’ chief executive Guillaume Faury was told the proposed stake would be “value destructive” as Evidian is a “low-quality, high-levered” business. TCI, which owns around 3% of Airbus’ shares valued at over €4bn, labelled the proposed investment as a seeming “bail out” of Atos and demanded Airbus say if any of it would be used to pay down Atos’ debt.

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