EADS confirms it is dropping plans for 'golden shares' for French, German govts

Date : 03/24/2008 @ 12:17PM
Source : TFN
Stock : Daimler Ag (DAI)
Quote : 24.85  -2.55 (-9.31%) @ 5:20AM
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EADS confirms it is dropping plans for 'golden shares' for French, German govts

        LONDON (Thomson Financial) - EADS' investors will consider a new protection
mechanism other than giving the French and German governments golden shares to
deter predators, chairman Rudiger Grube said, according to the Financial Times.
    Confirming earlier reports, Grube said EADS' articles of association would
probably be changed to "stop somebody (who) would like to take more than (a) 15
pct" shareholding in the group, the newspaper said.
    Major shareholders including the French government (which owns 15 pct),
media group Lagardere (7.5 pct) and carmaker Daimler (22.5 pct) agreed in July
to consider golden shares as a way of shielding the company, which makes Airbus
and military aircraft, from predators, the newspaper said.
    The core shareholders had since changed their minds "a little", Grube was
quoted as saying, and they neither rate golden shares nor feel they must find an
alternative this spring rather than next.
    
    
paul.sandle@thomson.com
ps/cmr

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