Breaking News

Tweet TWEET

Germany Plans to Buy 12 Percent of EADS This Year, FTD Says

Germany plans to boost its stake in European Aeronautic, Defence & Space Co. by 12 percent this year by purchasing shares owned by Daimler AG (DAI) and the Dedalus consortium, FTD reported, citing unnamed people close to the government.

The country would through the state-owned development bank Kreditanstalt fuer Wiederaufbau buy a 7.5 percent stake held by Daimler and as much as 4.5 percent of the shares owned by the Dedalus group of private banks, according to FTD. The purchase would let Germany match France’s 15 percent stake, FTD said.

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.