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BAE Systems To Sell Airbus Stake EADS Likely Buyers
London (AFP) Apr 07, 2006 British defence and aerospace giant BAE Systems is set to sell its 20 percent stake in aircraft maker Airbus, most likely to its Franco-German counterpart EADS, the BBC reported on Thursday. The news prompted union leaders to seek urgent talks with BAE because Airbus directly employs some 13,000 people in Britain. The BBC said the sale meant the end of British ownership of Airbus manufacturing sites in North Wales and near Bristol, western England. This would leave a big question mark over the future of jobs in the area. Amicus, Britain's largest manufacturing union, voiced concern at the news. "Obviously we have concerns, particularly because of uncertainty about any impact on jobs," said national officer Ian Waddle. "We want to find out if production will remain in the UK or whether it will be shifted to the countries where the new buyers are based," he said. On top of the people directly employed by Airbus in Britain, the BBC said up to a further 135,000 jobs at British suppliers also depended on the company. A spokesman for BAE was not immediately available to comment on the report. The BBC simply said it had "learned" of the deal, without citing its sources. Last month, The Guardian newspaper reported that BAE was in talks with EADS over the sale of its Airbus stake, which was worth about 3.5 billion euros (4.2 billion dollars).
Source: Agence France-Presse Related Links -
DaimlerChrysler And Lagardere Cut Stake In EADS
Washington (AFP) Apr 05, 2006German-US group DaimlerChrysler and Lagardere of France will substantially cut their stakes in the European defence giant EADS, the two firms said Tuesday. DaimlerChrysler said in a statement it would reduce its stake in the European Aeronautic Defence and Space Company (EADS) to 22.5 percent from 30 percent. |
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