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EADS-BAE talks set for extra time: Germany

AFP  Nicosia, September 27, 2012
First Published: 23:01 IST(27/9/2012) | Last Updated: 23:03 IST(27/9/2012)

Talks on a tie-up between aerospace groups European Aeronautic Defence and Space Company (EADS) and BAE Systems looked set for extra time on Thursday, after German defence minister Thomas de Maiziere said negotiations had some way to go. "I think we need more time," he said.


However, it looked as though BAE Systems and EADS would ask Britain's stock market regulator to extend its October-10 deadline, said sources.

According to a report, Berlin has reservations over the fact that EADS, the parent company of Airbus, would hold only 60% of the new group under the proposed $45-billion deal, and that veto rights of participating countries would be limited.

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