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French cloud outage is worst possible IPO weather

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LONDON, Oct 13 (Reuters Breakingviews) – OVHCloud has given traders another reason to suppose twice about its preliminary public providing. The French cloud-computing group, which needs to checklist with an fairness worth between 3.5 billion euros and three.7 billion euros, on Wednesday said its community was down because of human error throughout the reconfiguration of a U.S. knowledge centre. Its IPO is scheduled to cost on Thursday.

Founder Octave Klaba is no stranger to hitches: a hearth in March took down 4 knowledge centres in Strasbourg, France. That incident may find yourself costing the corporate 130 million euros after factoring in misplaced income, litigation provisions, impairment fees and the price of reimbursing clients and changing tools.

Prospective traders might have already got been delay by weak governance rights and gradual development . Other latest IPO candidates, like Dutch on-line retailer Coolblue, have shelved their plans citing market volatility. OVHCloud could also be subsequent in line. (By Liam Proud)

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Editing Peter Thal Larsen and Karen Kwok

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