Leonardo-Finmeccanica talks with Airbus over sale of 25% stake in MBDA stall
Airbus [EPA:AIR] has confirmed that talks with Italian defence group Leonardo-Finmeccanica [BIT:LDO] over the acquisition of a 25% stake held by Leonardo in missile producer MBDA have stalled, Italian language daily Il Sole 24 Ore reported. The report cited Airbus CEO Tom Enders who confirmed that talks on the matter had been put on hold.
Leonardo is looking to sell the stake because of the low investments made by the Italian military into missiles. The report noted that there have been rumours that Airbus has offered EUR 1.1bn for the stake.
Airbus already holds 37.5% of MBDA, as does BAE Systems [LON:BA], the report said.