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Table: Why Europe's Shareholders Are Up In Arms


International Business: EUROPE

TABLE: Why Europe's Shareholders Are Up In Arms

THE CHARGES WHO'S TARGETED

CORPORATE Banks and companies hold large Deutsche Bank-Daimler Benz,

INCEST passive stakes in one another Suez-Banque Nationale de

and sit on each other's boards, Paris-UAP

giving managers little incentive

to boost shareholder value

MINORITY In mergers, minority shareholders Marz Group, LaFarge-Coppee,

ABUSES often get no offer at all or Lagardre Groupe, Societe

a lower price than majority Generale

shareholders do

PRIVATE Bosses have named family Danone, Pinault-Printemps-

FIEFDOMS members as successors, renamed Redoute, Lagardre,

companies after themselves, Laura Ashley, Mediobanca

and arranged deals to benefit

friends

LACK OF Company statements hide major Gemina, Daimler Benz,

TRANSPARENCY problems, from underfunded Banco Espaol de Credito

pensions to financial irregularities

UNEVEN Forget one share, one vote-- Danone, Elf Aquitaine,

VOTING RIGHTS longtime and inside shareholders RWE, Investor

often get better voting rights

than individual shareholders

DATA: BUSINESS WEEK


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