Plans to scrap Spanish-listed companies’ power to cap the voting rights of shareholders has ruffled feathers in the local business community. Fernando Vives Ruiz reports
On 17 June 2010, following a rough and eventful passage through Parliament, the Lower House of the Spanish Parliament finally approved a substantive amendment to Spanish corporations law (to article 105.2) affecting listed corporations: a prohibition on voting ceilings for a shareholder (or companies in the same group), regardless of the number of shares they own.
