BAE Systems Pushing to Sell Airbus Stake
From the Associated Press
Britain’s BAE Systems said it was advising its shareholders to vote in favor of selling the company’s 20% stake in Airbus to the parent of the joint venture company, confirming a long-awaited move.
BAE would sell its stake to European Aeronautic Defense & Space Co., which owns the remaining 80% of Airbus, the chief rival of U.S.-based Boeing Co.
EADS is seeking to tighten managerial oversight of Airbus in response to a crisis of investor confidence this year over the way the companies handled news of further delays to the A380 super-jumbo program.
