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We consider this highly unlikely, due to the ownership restrictions on non-EU shareholders which are required to ensure that IAG's airlines retain their traffic rights.
It may also get the chance to buy out Telco's Italian shareholders, which are locked into the pact for three years, evidently as a temporary sop to national pride.Telefónica's arrival in Italy is merely the latest of four big recent Italo-Spanish ventures.
The management of private companies cares only about stock price and short-term profits for shareholders, which are incompatible with investment in the basic research programs that are the foundation of future growth.
"This is the direct representation of shareholders, which are the owners of the corporation".
"Probably whoever comes in will try to reduce the scale of the investment bank and look to address the division of compensation and rewards for shareholders, which are not in equilibrium," the senior banker said.
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The change would have strengthened legal protection for minority shareholders, which is notoriously weak in parts of the European Union.
It also announced that it was raising $3.5bn through a discounted share issue to shareholders, which was being done in order to boost its capital reserves.
Mr. Tese received the support of just 45.4 percent of shareholders, which is an abysmal showing by the standards of shareholder democracy.
The $13 a share offer to Human Genome Sciences' shareholders, which was set to expire on June 7, has been pushed back to June 29.
BUFFETT PLAYS UP NEWSPAPERS IN ANNUAL LETTER | Warren E. Buffett's annual letter to shareholders, which was published on Friday, underscored the investor's contrarian instinct.
Mr. Fourtou subsequently wrote a letter to shareholders, which was made public late Sunday, better outlining his views, but it was far from reassuring.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com