Russia acquires a stake in EADS

The Russian state bank VTB has acquired a five-percent stake in European aeronautic and space company EADS. The newspaper's Russian correspondent Peter A. Fischer comments: "The move fits in with the Kremlin's efforts to propel Russia's aircraft industry into a new future… Apart from a few positive exceptions, the Russian aircraft industry lacks money, a modern, internationally oriented management and the ability to successfully market services. But if all goes according to the Kremlin's plans, this will soon be a thing of the past. The well-endowed Russian state plans to invest billions in revitalising its aircraft industry and making it a key player on the international market." However, according to Fischer, although Russia is following a clear strategy with its purchase of EADS shares, the success of this enterprise is entirely dependent on the good will of the current members of the consortium from Germany, France and Spain. "Without their approval, Russia won't be able to assume executive functions at EADS even if it acquires ten percent of the consortium."

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