search query: @freeterm takeovers / total: 11
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| Author: | Kruse, T.A. |
| Title: | Minority expropriation and shareholder activism following Olivetti's hostile takeover of Telecom Italia |
| Journal: | Corporate governance
2007 : MAR, VOL. 15:2, p. 133-143 |
| Index terms: | companies mergers shareholders investor protection Italy |
| Freeterms: | acquisitions takeovers ownership structure |
| Language: | eng |
| Abstract: | This study explores the treatment of minority shareholders (hereafter as: s-h./s-hs.) and s-h. activism following Olivetti's successful hostile acquisition (here as: h-t-o./h-t-os.) of a majority stake in Telecom Italia in 1999. While Olivetti pursued many operations perceived to be harmful to Telecom Italia's minority s-hs., they were atypically strong in fighting back. Olivetti was forced to abandon or improve the terms of the operations in several cases. While Telecom Italia was vulnerable to a h-t-o. attack following its privatization, the concentration of ownership of listed companies ensures that h-t-os. takeovers will remain rare. |
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