Golden Share


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Golden Share

A share in a publicly-traded company that gives the shareholder power to veto changes to the charter. Golden shares were originated when the British government began privatizing previously nationalized companies in the 1980s and wished to retain a great deal of control over these companies. Other European countries later took similar measures, though many forms of golden share have since been ruled illegal in the European Union.
References in periodicals archive ?
Originally, the state had to return the golden share until June 10, 2009.
"Each club in the SPL has a golden share. The SPL has agreed to allow me to use the golden share and I can ask to have it transferred into a new company."
The Italian Government have a golden share in Telecom Italia.
The Spanish government has been eager to build a powerful national company but Prime Minister Jose Luis Rodriguez Zapatero squashed speculation that the country would exercise its "golden share" in formerly state-owned Endesa to block E.ON's approach.
But assistant boss Poyet is hoping the club will soon be granted their Football League 'golden share' after a meeting between the League's board and senior United officials early this week.
However, while in the normal state of affairs such a shareholding would have led the Dutch government to lose operational control of the company, a golden share' attached to each of the companies ensured this did not happen.
The Government's "golden share" in BAA was ruled illegal under EU law in May 2003.
AWG (formerly Morrisons Construction Ltd) built the stadium in 1992, and still possess a golden share, while the Council are landlords.
AIRPORTS operator BAA yesterday said the UK Government was preparing to ditch its so-called "golden share" in the company, effectively opening it up to takeover bids.
``What I meant was that the WRU had assisted Llanelli in the purchase of Stradey Park when times were tough, and that the WRU had invested a large sum of money into a golden share. ``In strictly cash terms, Llanelli owes a large sum of money.''
The possibility of the government retaining a golden share in the airline will also be decided in the second stage.
But the Government say they will keep a 49 per cent share in the NATS plus a "golden share" which would allow them to veto any scheme which would jeopardise safety.