EADS chief denies merger plan with Thales

18th November 2004, Comments 0 comments

PARIS, Nov 18 (AFP) - The French-British defence electronics group Thales and the European aerospace group EADS do not have a plan to merge, EADS joint chairman Philippe Camus said on Thursday.

PARIS, Nov 18 (AFP) - The French-British defence electronics group Thales and the European aerospace group EADS do not have a plan to merge, EADS joint chairman Philippe Camus said on Thursday.

A spokeswoman for the European Aeronautic Defence and Space company said that Camus had told a meeting of analysts and financiers that "a merger of EADS and Thales is not on the agenda".

Thales declined to comment.

Press reports have speculated for several days that the two groups might merge to create a European giant equivalent to the US behemoth Boeing.

The matter was expected to be raised during talks in London on Thursday between French President Jacques Chirac and British Prime Minister Tony Blair.

After Camus spoke, the price of shares in Thales fell by 2.72 percent to EUR 32.18 but EADS stock rose by 1.57 percent to EUR 23.98.

The matter was also raised during talks in London on Thursday between French President Jacques Chirac and British Prime Minister Tony Blair, an aide to Chirac said in London.

"The president told Mr Blair that we have the willingness and the objective to consolidate Thales," the aide said.

However, Chirac added that there was "no merger plan under way and various contacts continue," the member of his delegation added.

© AFP

Subject: French News

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