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Russian Bank Boosts Stake In European Aerospace Firm

An Airbus A320 operated by the Armenian carrier Armavia (epa) September 11, 2006 -- A Russian state-owned bank, Vneshtorgbank, has accumulated a stake of more than five percent stake in the European Aeronautic Defense and Space company (EADS), a spokesman for the aerospace company confirmed today.

Russian newspaper reports in late August said that Vneshtorgbank had spent about $1 billion buying shares in EADS, which owns the European aircraft maker Airbus and is also a major defense contractor.


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