Vodafone Germany chief urges protection against hedge funds
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Hamburg - "maximizing profits for hedge funds without regard to business and economic damage is generally a very questionable business model," Jens Schulte-Bockum said in an interview with the Hamburg business newspaper manager magazin (Release date: January 24). "This should be stopped," demanded the boss of Vodafone Germany, which is currently under attack by the U.S. hedge fund Elliott.
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The British telecom giant Vodafone Show Charthas in the past year the majority of the competitors cable Germany acquired (KDG). 11.09 percent of KDG holds but still a major investor Elliott. In order that this may prevent squeeze out the remaining shareholders.
Elliott is known to participate in company to drive in a takeover, the purchase price in the amount. Recently, only the Americans had the takeover of the pharmaceutical producers torpedoed Celesio .
Vodafone is expected to award proceedings, will be at the decision on compensation to minority shareholders. The fact that Elliott could act so aggressively in Germany, was "in any case, the result of a loophole in the German stock corporation law," criticized Schulte-Bockum.