TCI Asks EADS To Sell Stake In Dassault

Activist fund TCI has asked EADS to sell its stake in Dassault Aviation, the manufacturer of fighter and corporate jets. TCI, which has a one per cent stake in EADS, wrote to its CEO, Tom Enders, asking that the company sell its 46 per cent stake, which is worth $5.3bn. TCI claims the stakeholding is a “poor use of capital” and has “limited strategic value”. EADS would have to consult with the French government, which owns 12 per cent of EADS, before divesting any shares in Dassault.

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