Qatar close to buying stake in EADS

3rd April 2007, Comments 0 comments

DOHA, April 2, 2007 (AFP) - Qatar is close to buying into the European Aeronautics Defence and Space Company (EADS) which makes Airbus planes, the Qatari foreign minister said on Monday.

DOHA, April 2, 2007 (AFP) - Qatar is close to buying into the European Aeronautics Defence and Space Company (EADS) which makes Airbus planes, the Qatari foreign minister said on Monday.

"There are serious talks to reach a general agreement," Sheikh Hamad bin Jassem bin Jabr al-Thani said at the opening of a construction exhibition.

"We have almost reached an understanding regarding the purchase... There are a few points that need to be agreed upon before the deal is signed."

Qatar officials have reportedly said they are considering acquiring 10 percent of EADS.

The troubled company has been hit by delays with its A380 superjumbo project, order cancellations and abrupt management changes in the last 12 months.

It now faces employee disaffection and a battle with trade unions over cutbacks that management says are urgently needed.

Copyright AFP

Subject: French news

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