NEW YORK (TheStreet) -- Shares of Airbus Group (EADSY) are slightly lower at $15.77 after the company announced plans to sell half a dozen businesses with combined annual revenues of about $2.6 billion, simplifying its Defense and Space division to focus on warplanes, missiles, launchers and satellites, Reuters reports.

Europe's largest aerospace group signaled a break with previous efforts to diversify into security activities and a halt to investment in defense electronics, in which it lacks the scale of rivals, Reuters noted.

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