Germany's Glos says govt wants to keep EADS' equal governance structure |
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Published
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Sun, 11 Mar 2007 18:17
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FRANKFURT (AFX) - German Economy Minister Michael Glos indicated the government would not accept any changes in EADS NV which would upset the company's shareholding structure of sharing power between France and Germany, according to weekly WirtschaftsWoche, to be published tomorrow.'The German government will not accept any changes in the power structure in EADS,' he told the magazine, referring to the current set up whereby France and Germany hold the same number of shares in EADS.Glos said EADS is a European company 'and will neither be a German nor a French' entity.French officials and politicians have lately been calling for a capital increase in EADS and for the balance of power to shift in favour of France.The French government and Lagardere currently hold between them 29.9 pct of voting rights in EADS. DaimlerChrysler AG hold another 29.9 pct of the voting rights, the Spanish government holds a 5.5 pct stake and the rest are free float.Under the current set-up, EADS has two co-chairmen on the management board.marilyn.gerlach@thomson.commog/cmlCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Germany's Glos does not rule out German, French govts withdrawing from EADS 