The Golden Share Makes a Dubious Comeback
Golden shares can be seen as a particular version of dual-class governance structures that allow company founders voting rights exceeding their economic shareholding in a company. The difference is that the disproportionate power is held by a government rather than an entrepreneur like Mark Zuckerberg at Meta Platforms Inc. Golden shares are mostly associated with the European privatizations late last century, like BAE Systems Plc, Rolls-Royce Plc and Royal KPN NV.
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