September 27, 2012
Credit: Credit: BAE Systems
German Defence Minister Thomas de Maiziere said on Thursday he believed more time would be needed beyond an Oct. 10 deadline to discuss a proposed merger between EADS and BAE Systems to create an aerospace and defence giant.
“Perhaps we need more time. It depends on the answers for our questions and so I think we need more time,” de Maiziere told reporters in Nicosia, when asked if he was optimistic the Oct. 10 deadline could be met.
Barring an extension, Franco-German dominated EADS and Britain’s BAE have until Oct. 10 under British takeover rules to set out detailed plans for the $45 billion merger, which is complicated by the interests of the governments involved.
A French government source also cast doubt on whether the deadline would be met, saying it appeared tight “given the complexity of the issues on the table.”
“But that’s a matter for the companies,” added the source, speaking late on Wednesday on condition of anonymity.
De Maiziere said he had discussed the proposed merger with his French and British counterparts on Wednesday evening, on the sidelines of a European Union defence ministers’ meeting that all three are attending in Cyprus.
Describing the discussions as “constructive”, he said: “This is a complex situation, there are a lot of questions and conditions, nothing has (been) decided yet.”
“We will keep in contact,” he said.
“There are constructive discussions of course among France, Germany and the UK. We are friends, so we will see. There is no result and the situation is open,” he said.