Daimler offered to sell a 7.5% stake in the Airbus parent to the German government

Article by Christian A., on February 20, 2011

Daimler AG offered to sell a 7.5% stake in the Airbus parent to the German government, a cabinet source told Reuters. It had only been a week ago that the company was charged with insider trading by Paris judges leading a 5-year probe into sales of shares in EADS.

The source confirmed this to be true but he said that the government has yet to make a decision. German Chancellor Angela Merkel will be meeting with ministers on the sidelines of a cabinet meeting next Wednesday to discuss the offer, the source said.

The charges stem from the French judges’ questions raised to Daimler about its decision to sell a 7.5% stake in EADS in April 2006, two months before the parent of Airbus SAS disclosed production delays on the A380, the world's biggest passenger plane.

The Financial Times report, which cited two sources, revealed that Merkel will discuss a proposal to altogether buy 15% of EADS, half from Daimler and half from a banking group.

Daimler CEO Dieter Zetsche said in an interview with Reuters Insider TV that there’s a possibility for the carmaker to make a change to its holding in EADS. But he clarified that there has been no decision yet. Daimler and EADS declined to comment on the report. [via autonews - sub. required]

If you liked the article, share on:

Topics: daimler, germany

Comments

Recommended

Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 2017
Tesla revealed that with its new Semi, truck drivers can expect better experience especially with heightened safety and the lower cost of transporting cargo. Indeed, the cabin of the new...
by - November 19, 2017
November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries