AIRLINK 74.25 Decreased By ▼ -0.35 (-0.47%)
BOP 5.05 Decreased By ▼ -0.09 (-1.75%)
CNERGY 4.42 Decreased By ▼ -0.08 (-1.78%)
DFML 35.84 Increased By ▲ 2.84 (8.61%)
DGKC 88.00 Decreased By ▼ -0.90 (-1.01%)
FCCL 22.20 Decreased By ▼ -0.35 (-1.55%)
FFBL 32.72 Increased By ▲ 0.02 (0.06%)
FFL 9.79 Decreased By ▼ -0.05 (-0.51%)
GGL 10.80 Decreased By ▼ -0.08 (-0.74%)
HBL 115.90 Increased By ▲ 0.59 (0.51%)
HUBC 135.84 Decreased By ▼ -0.79 (-0.58%)
HUMNL 9.84 Decreased By ▼ -0.13 (-1.3%)
KEL 4.61 Decreased By ▼ -0.02 (-0.43%)
KOSM 4.66 Decreased By ▼ -0.04 (-0.85%)
MLCF 39.88 Increased By ▲ 0.18 (0.45%)
OGDC 137.90 Decreased By ▼ -1.06 (-0.76%)
PAEL 26.43 Decreased By ▼ -0.46 (-1.71%)
PIAA 26.28 Increased By ▲ 1.13 (4.49%)
PIBTL 6.76 Decreased By ▼ -0.08 (-1.17%)
PPL 122.90 Increased By ▲ 0.16 (0.13%)
PRL 26.69 Decreased By ▼ -0.32 (-1.18%)
PTC 14.00 No Change ▼ 0.00 (0%)
SEARL 58.70 Decreased By ▼ -0.77 (-1.29%)
SNGP 70.40 Decreased By ▼ -0.75 (-1.05%)
SSGC 10.36 Decreased By ▼ -0.08 (-0.77%)
TELE 8.56 Decreased By ▼ -0.09 (-1.04%)
TPLP 11.38 Decreased By ▼ -0.13 (-1.13%)
TRG 64.23 Decreased By ▼ -0.90 (-1.38%)
UNITY 26.05 Increased By ▲ 0.25 (0.97%)
WTL 1.38 Decreased By ▼ -0.03 (-2.13%)
BR100 7,838 Increased By 19.2 (0.24%)
BR30 25,460 Decreased By -117.2 (-0.46%)
KSE100 74,931 Increased By 266.7 (0.36%)
KSE30 24,146 Increased By 74.2 (0.31%)

FRANKFURT: The German automaker Daimler wants to sell half of its remaining 15 percent stake in the aerospace and defence group EADS to the German government, the Financial Times Deutschland (FTD) said Thursday.

According to the newspaper, which did not identify its sources, Berlin would also buy a 7.5 stake in EADS from German banks and regional governments, giving Germany an equivalent stake to that held by France.

The transactions would cost Berlin 2.7 billion euros ($3.6 billion), the FTD said.

Although Daimler now owns 15 percent of the shares in EADS, it controls 22.5 percent of the voting rights, whereas on the French side, the state and the Lagardere group also control 22.5 percent.

Spain owns 5.5 percent of the aerospace group, which is the parent company of the aircraft manufacturer Airbus and the Eurocopter consortium.

On Wednesday Daimler said it wanted to find "a balanced solution" for France and Germany with respect to EADS, while Daimler chairman Dieter Zetsch added that "the shareholder structure will have to be discussed in the future."

Daimler has already reduced its holding twice and is believed interested in putting even more distance between itself and EADS.

Judges in France are pursuing Daimler in connection with an insider trading scandal centred on the European defence group following the sale by Daimler of a 7.5 percent stake in EADS in April 2006.

Two months later Airbus announced a major delay to deliveries of its A380 passenger jet, which sent EADS share prices plunging.

Copyright AFP (Agence France-Presse), 2011

Comments

Comments are closed.