EADS gives jobs guarantee for merger backing

EADS CHIEF executive Tom Enders yesterday moved to win Germany’s support for the £30bn mega-merger with BAE by guaranteeing German jobs in the enlarged firm.

Enders said yesterday that he was “so convinced” of the project that he was willing to offer medium- and long-term guarantees for German jobs.

Political interests in Britain, France and Germany have threatened to stymy the deal, and Enders said last month that state involvement must be kept to a minimum to ensure the merged firm remains competitive.

The EADS chief said yesterday that both BAE and EADS would offer Germany, France and the UK a “golden share” in the enlarged firm, to veto any firm that wants to own more than 15 per cent of the company.

“It wouldn’t cost the governments a single cent and they could still protect their interests,” Enders said.

He said that the merger represented a “unique opportunity” for both firms.

Both parties are gearing up for a 10 October deadline to provide more clarity on the merger.

BAE yesterday denied that Ian King would net an £18m windfall from the merger.