Business | Aviation
EU warns against 'golden shares' to protect EADS
The European Commission has warned France and Germany not to introduce "golden shares" at aero-space group EADS as a tool to ward off potential foreign predators.
- Reuters
- Published: 00:02 March 9, 2008
Brussels/Berlin: The European Commission has warned France and Germany not to introduce "golden shares" at aero-space group EADS as a tool to ward off potential foreign predators.
But Berlin said Brussels was missing the point in how best to protect a flagship group essential to national security.
"The general view on golden shares is clear. The European Commission doesn't think golden shares have a place in the single market," European Commission spokesman Oliver Drewes told a regular news briefing when asked about the situation at EADS.
In Berlin, government aerospace coordinator Peter Hintze said Germany, France and EADS' major shareholders had held "good talks" on whether to adopt golden shares but that it was still an open question as to whether an agreement could be reached.
Hintze, who is also a deputy economy minister, dismissed Brussels' opposition to the idea, noting states had a clear right to defend national interests when it came to armsmakers. "I consider the Commission spokesman's comments to be missing the point," he said.
German carmaker Daimler, a major EADS shareholder, said owners of the Airbus parent had not agreed any steps that could limit the influence of foreign investors.
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