Sarkozy says shareholder structure EADS' main problem; to seek new shareholders |
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Thu, 15 Mar 2007 17:53
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PARIS (AFX) - French presidential candidate Nicolas Sarkozy said that the Franco-German shareholding structure of EADS is the source of the group's problems, and proposed a revised shareholders' pact involving new financial and industrial shareholders.'The shareholders' pact is founded on an absolute parity with Germany, which I can understand for diplomatic reasons,' he said at a meeting with trade unions at the Saint-Nazaire Gron plant of EADS unit Airbus.'But EADS is not an international organisation, it is a company...It is high time we gave priority to an industrial logic,' he argued.Sarkozy said he is prepared to renegotiate the current shareholding structure in order to add 'one or more financial shareholders' and 'an industrial shareholder'.Sarkozy also said that, if he is elected, the French state will participate in a capital increase for EADS, 'provided it serves an industrial strategy', adding that 'Airbus needs cash'.Regarding EADS' Power8 restructuring, he argued that 'there is certainly a need for a cost rationalisation plan', while reiterating his opposition to a dividend for shareholders at a time when heavy job cuts are being made.paris@afxnews.comafp/gt/jlcCOPYRIGHTCopyright 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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ROUNDUP EADS becomes 4th French blue chip with fate tied to presidential vote 