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BAE sets 10-day deadline for troubled Airbus exit

BAE Systems, the UK defence company, is looking to draw a line under six months of controversy surrounding the £1.9bn (€2.8bn) disposal of its stake in its Airbus subsidiary by completing the deal next week, after it secured overwhelming shareholder support.

Investors representing 99.85% of BAE's shares yesterday voted in favour of the disposal at an extraordinary general meeting. BAE set a target to complete the deal by "not later than October 14", in line with the shareholder pact between itself, Airbus and EADS, the European defence and aerospace company.

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