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Public opinion seethes at rulings of the European Court of Human Rights.Britain is almost a mirror-image of many countries across the Straits of Dover, where public opinion is neuralgic about corporate ownership, forcing governments to use shareholding rules or sovereign-wealth funds to block takeovers.
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The government eased cross-shareholding rules to aid consolidation across business units.
Observers think this will be completed by July, at which point the government should gradually relax foreign-shareholding rules.
His 'substantial shareholdings exemption' rule, introduced in 1992, allows corporations to buy and sell substantial shareholdings without worrying about tax.
He had failed to follow the proper rules over shareholdings and directorships after he quit as home secretary last December over an affair.
However, HSBC, the world's third-biggest bank by market capitalisation, which bought 14.6% of UTI last year, may now have to cut its holding to below 5%, the maximum cross-shareholding that the new rules allow.
In 2000, another giant, PricewaterhouseCoopers, was found guilty of no fewer than 8,000 violations of SEC rules covering employees' shareholdings in audit clients.
Ferrexpo ended 1.4p lower at 182.6p as chief executive Kostyantin Zhevago and investment group BXR said they would trim their shareholdings to help meet new rules for the amount of a company's shares which available on the market.
One is that the rules against such circular shareholding structures are being tightened.
The new rules apply to any shareholding, however small, and to part-time as well as full-time employees.
At the time of the row, the prime minister said he had followed all the rules for the registration of shareholdings in full.
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