Sources involved claim EADS-BAE tie-up talks likely to need extra time
September 28, 2012, 12:02 am TWN
NICOSIA -- Talks on a tie-up between aerospace groups EADS and BAE Systems looked set for extra time on Thursday, after German Defense Minister Thomas de Maiziere and another source said negotiations had some way to go.
"I think we need more time," de Maiziere told journalists in Nicosia after meeting the day before with his British and French counterparts to discuss the proposal which would create a giant to rival the U.S. group Boeing.
A source close to the talks told AFP that it looked as though British arms maker BAE Systems and the European Aeronautic Defence and Space Company would ask Britain's stock market regulator to extend its Oct. 10 deadline.
Under British stock market rules, the two groups have until Oct. 10 formally to announce that they intend to combine their activities or ditch the project, though they could also ask for a delay.
The British side did not think that this would be a problem under British stock market rules, the source added.