EU's Barnier: Portugal's Use Of Golden Shares "Unjustified"
July 01 2010 - 7:20AM
Dow Jones News
The Portuguese government's use of its golden shares in Portugal
Telecom SGPS SA (PTC.LB) to block Telefonica SA's (TEF) bid for
PT's stake in Brazilian mobile operator Vivo Participacoes SA
(VIV), is "unjustified," the European Union's Commissioner for
internal markets Michel Barnier said Thursday.
Special rights provided by golden shares go against a basic EU
principle that investments should flow freely across the EU's
internal borders, he said.
-By Carolyn Henson, Dow Jones Newswires; +32 2 741 1481;
carolyn.henson@dowjones.com
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