Thomson is in discussions with bankers after another difficult year will leave the media services group in breach of debt covenants, jeopardising the future of a company that was once a symbol of France’s hi-tech expertise.

Frédéric Rose, the chief executive appointed to revive Thomson in September, has decided to sell roughly 23 per cent of the business in a bid to set a new strategic direction for the diffuse media services group and convince banks to waive their covenants.