Privatization: securing rears

April 22, 2016 17:53

A letter of the State Property Committee of Belarus “Regarding holding of annual common meetings of members of business associations” rules that representatives of state can be appointed to the Supervisory Board of any joint stock company by passing elections when the state has at least one share in it.

Experts regard this new initiative as identical to the “golden share” rule, recently annulled in Belarus. It seems, the state strengthens its positions in Belarusian joint stock companies prior to a large-scale privatization. The state representatives will be protecting state interests while debating and voting on the company’s policy on production, employment, dividends, etc.

 

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