If Enders had hoped that government influence might be reduced as part of the BAE Systems deal, he might soon be proven wrong. Instead, he might end up with an additional government shareholder (Germany) and more veto rights for the countries. In addition to France’s 15%, Spain’s government holding Sepi has a 5.4% stake in EADS.

Another key issue is going to be whether the European Commission would be ready to accept the golden share setup that EADS and BAE Systems have been proposing. The commission has been highly critical of such special rights and has been trying to cut back on them in other industries. They are possible, however, when it comes to defense interests. A spokesperson said the commission has yet to be notified and thus it was “too early to comment on this case and its possible outcome.”