Business Week cites reports that Russia's Vneshtorgbank (VTB) has laid out $1 billion for nearly 5% of the European Aeronautic Defence & Space Co. (EADS), which owns Airbus. Neither VTB nor EADS would comment. This news comes directly on the heels of news that British Aerospace's (BAE) board of directors has agreed to sell the company's 20% stake in Airbus to EADS in a deal that will reap the British company a little over ₤1.2 billion ($2.3 billion). The board's support of the sale, which requires BAE shareholder approval, comes after the UK company undertook an independent review of the European aerospace manufacturer's commercial unit. If the numbers reported are correct, then the Russain bank is paying roughly 75% more per share than BAE is to receive. That company's board of directors may well wish to reconsider the sale of its shares, or perhaps offer its shares directly to Vneshtorgbank. But the issues involved in this reported sale are far more significant than...(Read Full Post)