EADS has reshuffled its shareholdings in the biggest shake-up of control since it was founded over a decade ago.
The total of direct state shareholdings is increased with 12 percent each for France and Germany but with the bulk of its shares being put beyond government influence. Spain will also have a stake of around four percent.
The move is designed to simplify the structure of Europe’s largest aerospace company and comes weeks after the break down of merger talks with British weapons maker BAE Systems.
Until now parity in EADS – originally formed from a merger of French, German and Spanish interests – had been ensured through a complex pact between the French state, French media firm Lagardere and German car firm Daimler.
France will give up veto powers over the company’s industrial policy and none of the governments will have special veto powers but sensitive defence interests will be ring-fenced.
- 1‘iStruggle’ – how Apple Is trying to get its groove back
- 2Brazil: dam collapse lawsuit seeks billions from mining companies
- 3Tussle over 500 euro notes ends with slow phasing out
- 4Referendum fears hit UK services growth
- 5Where’s the money? UN tax haven report details billions moving around the world
- 1Brazil: dam collapse lawsuit seeks billions from mining companies
- 2European mobile roaming charges cut again
- 3Waste not, want not: boosting business with leftover food
- 4Where’s the money? UN tax haven report details billions moving around the world
- 5Eurozone GDP back to pre-2008 crisis level, unemployment falls, inflation down
BT responds to critics with fibre-optic and 4G mobile investment plan
Tesla sets incredibly high 500,000 cars per year production schedule
Uber names global advisory board to help it overcome opposition and expand
Takata airbag recalls in US to expand by up to 40 million
Brazil: dam collapse lawsuit seeks billions from mining companies
Wires > Business
- 02:10 CET Wanted – Manufacturing whizzes to work on Tesla’s Model 3
- 02:05 CET BP warns on Canadian oil deliveries as wildfire burns on
- 01:53 CET AerCap interested in larger 737, not in CSeries – CEO
- 00:04 CET Loophole in U.S. shell company rule could spur misconduct – groups
- 23:50 CET Not just eye candy – Activision’s ad revenue bet with King Digital
- 23:19 CET Fiat Chrysler CEO – Unclear who owns self-driving cars’ data
- 22:59 CET Insight – Before massive Bangladesh heist, New York Fed feared…
- 22:17 CET Wall Street gives up on June rate hike by Fed after payrolls…