EADS Time to say goodbye

The timing of DaimlerChrysler’s sale of a 7.5% stake in EADS is surprising. For tax reasons, the carmaker wasn’t expected to trim its 30% stake in the Franco-German defence group before 2007. But Daimler has entered into a forward sales agreement with Morgan Stanley and JP Morgan that will net the German car-maker E2bn. Certainly, Daimler is right to cut its shareholdings. Aerospace and defence isn’t part of its core business. The carmaker needs the money for ongoing restructuring. It also wants...