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But since then BCP's newer shareholders have fought back hard.
There is no quick fix for Avon, so newer shareholders in particular will be tempted to take Coty's money and run.
Though a mutual fund can't exactly re-evaluate its private companies' value daily as it does with its liquid holdings, Fidelity may have let the lofty valuations it had set for certain private companies grow "stale," suggests Raynard, meaning newer shareholders in Fidelity's mutual funds may have overpaid for those assets.
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New shareholders were not consulted.
That means the new shareholders could have swayed the vote.
Popular capitalism produced new shareholders, but new losers, too, when the financial crisis struck.
The new shareholders, it added, will meet to appoint a new board on Sept. 9.
The identities of the remaining three new shareholders are not publicly known.
Clouds may form over Blackstone's new shareholders, but they should have a silver lining.
But whether the Agricultural Bank will make its new shareholders rich is far from certain.
Nearly 40 percent of the more than 20,000 new shareholders are from 60 countries outside Spain.
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