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dc.contributor.author
Dodou, Elpiniki
en
dc.date.accessioned
2015-06-29T09:54:35Z
dc.date.available
2015-09-27T05:58:23Z
dc.date.issued
2015-06-29
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/547
dc.rights
Default License
dc.title
Golden Shares And Member States Privatization Policies Under European Union Law
en
heal.type
masterThesis
heal.language
en
heal.access
free
el
heal.license
http://creativecommons.org/licenses/by-nc/4.0
heal.recordProvider
School of Economics, Business Administration and Legal Studies, LLM in Transnational and European Commercial Law, Mediation, Arbitration and Energy Law
heal.publicationDate
2015-01
heal.bibliographicCitation
Dodou Elpiniki ,2015, Golden Shares And Member States Privatization Policies Under European Union Law, Master's Dissertation, International Hellenic University
en
heal.abstract
Privatization is still an ongoing process of high importance for many EU Member States. The present study will examine the tension that is often created between the desire of the Member States to proceed to the denationalization of their national champions and the objectives of the Internal Market that aim at the establishment of an open, integrated market. This tension has also led to the violation of fundamental Treaty provisions, such as the free movement of capital and the freedom of establishment. Among the protectionist measures introduced by the Member States are the so called “golden shares”, special rights enacted by EU governments in order to maintain certain degree of control over privatized companies. As analyzed in the this study during the last fifteen years the Court of Justice of the European Union has developed an extensive case law with core legal issue the legality of such special rights under EU Law and, more particularly under Articles 49 and 63 TFEU, providing, at the same time, Member States with the necessary guidelines as to how they should shape their privatization policies.
en
heal.tableOfContents
I. INTRODUCTION……………………………………………………………....1 II. THE ROAD TO PRIVATIZATION IN THE EU……………………….........2 III. CONCEPT OF GOLDEN SHARES AND SIMILAR RIGHTS…………...5 A. The concept of golden shares………………………………………....5 B. Different forms of golden shares schemes………………………….6 i) Distinction of golden shares based on the rights conferred......6 a) Golden Shares schemes that grant to the State the right to control changes in the ownership structure of the company……………………………………………………….....6 b) Golden Shares schemes that provide governments specific influence on company decisions …………….……8 ii) Distinction of golden shares based on the instrument used…..9 IV. THE 1997 COMMISSION COMMUNICATION……………………………11 V. Golden Shares and European Union Law……………………………….15 A. Freedom of Establishment………………………………………………15 B. Free Movement of Capital……………………………………………….17 C. Articles 49 and 63 TFEU and golden share devices……………......17 i) Prior Stance of the CJEU…………………………………………......17 ii) Recent Developments…………………………………………………19 VI. Landmark Decisions of the CJEU on the golden shares regime……22 A. Commission v. Italy (Case C-58/99)…………………………………..22 B. Commission v. Portugal (C-367/98)…………………………………..23 C. Commission v. France (C-483/99)………………………………….....25 D. Commission v. Belgium (C-503/99)…………………………………...27 i) Useful conclusions in the Case against Belgium…………………30 E. Commission v. Spain (C-463/00)……………………………………….32 F. Commission v. United Kingdom (C-98/01)…………………………...34 G. The Volkswagen Case-A new dimension of the golden shares case law………………………………………………………………………………36 1. Factual background………………………………………………....36 2. The argumentation of the parties-Opinion of the Advocate General ………………………………………………………………….38 3. Findings of the Court………………………………………………..40 4.Implications of the Volkswagen Case and emerging issues…43 4.1. Traditional golden shares case law and the Volkswagen Case………………………………………………………………...43 4.2. The “one share, one vote” rule………………………………………………………………….46 H. The golden shares jurisprudence in the recent Essent Case…….46 VII. 2005 Commission Communication on intra-EU investment in the financial services sector………………………………………………………..50 VIII. Summary and concluding remarks………………………………………53 Bibliographic References……………………………………………………….56 Commission Papers/Working Documents/Press Releases……………....59 CJEU Case Law…………………………………………………………………. .59
en
heal.advisorName
Papadopoulos, Thomas
en
heal.committeeMemberName
Papadopoulos, Thomas
en
heal.committeeMemberName
Kotsiris, Lampros
en
heal.committeeMemberName
Eleutheriadis, Nikolaos
en
heal.academicPublisher
School of Economic and Business Administration,LL.M in Transnational and European Commercial Law and Alternative Dispute resolutions
en
heal.academicPublisherID
ihu
heal.numberOfPages
66
heal.fullTextAvailability
false


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