JTW News
Turkish Weekly: "EU ruling against 'golden shares'
Friday , 29 September 2006
The Netherlands is breaking the law in owning a 'golden share' in postal firm TNT, Europe's highest court has ruled.
The European Court of Justice (ECJ) said the share - giving the state a veto over mergers - was incompatible with the free movement of capital.
State involvement deterred investment and was not necessary to ensure the firm stayed solvent, the ruling added.
European courts have already ruled against France, Portugal, the UK and Spain in cases of share ownership. "
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