despite repeated suggestions as early as 2000 that bae systems wished to sell its 20 % share of airbus, the possibility was consistently denied by the company. however, on 6 april 2006 bbc news reported that it was indeed to sell its stake, then "conservatively valued" at £2.4 billion. due to the slow pace of informal negotiations, bae exercised its put option, which saw investment bank rothschild appointed to give an independent valuation. six days after this process began, airbus announced delays to the a380 with significant effects on the value of airbus shares. on 2 june 2006 rothschild valued bae's share at £1.87 billion, well below bae's, analysts' and even eads' expectations. the bae board recommended that the company proceed with the sale and on 4 october 2006 shareholders voted in favour; the sale was completed on 13 october making eads the sole shareholder of airbus.