Spain to increase stake in European Airbus

14th April 2005, Comments 0 comments

14 April 2005, MADRID - The Spanish government is negotiating an increase in its 5.4 percent stake in the conglomerate behind the European Airbus.

14 April 2005

MADRID - The Spanish government is negotiating an increase in its 5.4 percent stake in the conglomerate behind the European Airbus.

Defence minister Jose Bono said it was negotiating an increase in its stake in the European Aeronautic Defence and Space Company (EADS).

"The executive is negotiating an increase in Spanish participation in EADS. But the percentage has yet to be fixed," Bono added.

Asked about Madrid's intentions amid rumours that the government wanted to raise the stake to 10 percent, he refused to elaborate.

On 4 April, the chairman of Spain's Sepi public holding company, Enrique Martinez Robles, said that Spain and private Spanish investors should increase their stake in the European conglomerate, which controls the Airbus aircraft manufacturer and has wide-ranging defence and aeronautics interests.

Martinez Robles said an increase was be desirable given that private Spanish stakes in EADS were "very weak" at barely 2 percent. The Spanish state controls 5.4 percent in EADS via Sepi.

In terms of overall Spanish participation in EADS' industrial production, Martinez Robles suggested a rise from 5 to 10 percent in Airbus, which is 80 percent owned by EADS and 20 percent by BAE Systems of Britain.

France holds a 15-percent stake in EADS, with French conglomerate Lagardere
holding a further 15 percent.

Daimler-Chrysler of Germany owns 30 percent and the rest is publicly quoted.

[Copyright EFE with Expatica]

Subject: Spanish news

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