Unexpected stop at maxi merger between the two defense giants EADS and BAE Systems. Lagardère, which holds 7,5% of the French-German group, believes that the financial conditions for the operation with the English competitor are "unsatisfactory” and urged the top management to re-examine the project taking into greater consideration “the overall interests of the French controlling shareholder of EADS”. Also because so far "it has not been demonstrated that this project creates value for EADS", as Lagardère underlined in a note.
Meanwhile, according to the latest rumors circulated over the weekend, France and Germany would agree to ask London to have a 9% stake each in the aeronautics and defense giant that would be born with the merger of EADS and BAE Systems. Berlin had sent to Paris on Friday his conditions to give the green light to the merger.
