No rush to decide on EADS-BAE merger
Germany's defence minister, Thomas De Maizière, reckons the October 10th deadline for thrashing out details of a merger between EADS and BAE Systems might be on the optimistic side.
Germany's defence minister, Thomas De Maizire, reckons the October 10th deadline for thrashing out details of a merger between EADS and BAE Systems might be on the optimistic side.
"Perhaps we need more time. It depends on the answers for our questions and so I think we need more time," Thomas de Maizire told reporters in Nicosia, when asked about the proposed tie-up between Airbus owner EADS and British defence firm BAE.
De Maizire revealed he had constructive discussions with his French and British counterparts on Wednesday evening, but the proposed merger is a complex issue, not least because of national security concerns. Under the current proposal, France's EADS would be the senior partner of the combined entity, which might not sit well with some of BAE Systems' military customers.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
De Maizire said it was not for him to determine whether the currently proposed 60/40 post-merger weighting in favour of EADS was appropriate.
EADS and BAE Systems have said they will offer France, Germany and Britain a "golden share" in the new company, enabling them to veto any future takeover.
JH
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published