The European Court of Justice's ruling that golden shares are in breach of competition regulation looks set to end a system which has allowed EU governments to retain a controlling share in key privileged industries despite the investment of the private sector. Vincent Brophy reports,
June 18, 2003 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
On 13 May, and for the second time in less than a year, the European Court of Justice (ECJ) struck down golden share schemes put in place by European Union (EU) member states.
Last time, it was France and Portugal on the end of unfavourable judgments. This time, the UK was in the dock over arrangements concerning BAA, along with Spain, for a scheme concerning several companies including Telefonica, Repsol and Endesa.
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