France, Spain want to raise stakes in EADS - report |
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Published
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Fri, 16 Feb 2007 12:31
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FRANKFURT (AFX) - The French and Spanish governments are seeking to raise their stakes in EADS following a recent move by the German government to create a pool of investors that will hold a 7.5 pct stake in the company, government sources in Paris told WirtschaftsWoche in an article to appear in next week's edition.The sources said the French government wants to create a consortium of state-owned banks that will acquire an unspecified amount of EADS shares from Lagardere SCA.Lagardere originally held a 15 pct stake in EADS, but it last year sold half of this by issuing a convertible bond redeemable into EADS shares.The French state already holds about 15 pct of EADS.The sources also told the magazine that the Spanish government wants to raise its stake in EADS to 10 pct from 5.5 pct in order to avoid losing influence within the pan-European aerospace and defence group.The magazine added that an unnamed party has hired Citigroup to acquire a large quantity of EADS shares on the open market. It did not identify the source of this information.However, WirtschaftsWoche speculated that the Russian or Chinese governments might be behind the share purchases.Russian state-owned Vneshtorgbank already holds at least 5 pct of EADS, it added.Separately, an EADS spokesman told the Financial Times Deutschland that the company has no plans to sell its stake in Dassault Aviation.alfred.kueppers@afxnews.comamk/rarCOPYRIGHTCopyright AFX News Limited 2006. 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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EADS says Airbus to undergo 'deep' cost cuts, all Europe sites to share burden 