for a Week, now to fall on Thursday, the decision on the future of Lufthansa. At an extraordinary General meeting on the Internet shareholders have to decide: rescue by the state, or bankruptcy. More recently, the rescue seemed to safe, however now a shareholder and billionaire Heinz Hermann Thiele lateral shoots great. He criticized entry in the scheduled state, and leaves open whether he will agree.
Dyrk Scherff
editor in the area of “money & More” the Frankfurt General Sunday newspaper.
F. A. Z.
With his official 15-percent share (maybe even more) he can prevent the state of introduction, if the presence at the annual General meeting is low. It is high enough, it depends on the decision of the other investors. Thiele would have to find other comrades-in-arms.
has made Publicly so far, no one on his side. On the contrary: In a survey by the F. A. S. several owners have indicated approval to the state bailout. You are not fully convinced of the rescue package, but fear insolvency. “We see the attitude of Mr Thiele-critical, and think that is an unnecessary discussion. We keep our fingers crossed that the rescue package will be approved,“ said a German Investor.
“We want to promote the shareholder culture in Germany”
renegotiations as Thiele no one calls. Thiele himself criticized in an Interview with the F. A. Z. especially the planned Federal share of 20 per cent of Lufthansa, the dilute the shares of existing shareholders – also his–. The case of capital increases usual subscription rights for the existing shareholders was excluded. Thiele also rejects the low purchase price for the Federal government to the nominal value of the shares, which is only about one-third of the current price.
the Fund company Union Investment, which holds shares in Lufthansa criticized. “We want to promote the shareholder culture in Germany. The rescue package, especially the increase in capital value, does not. We don’t want the school,“ says Patrick Schuchter, the transportation equity responsible portfolio Manager.
the increase in The equity capital accounts for only around 300 million euros of the nine-billion-Euro rescue package. “For so little extra money, the competitiveness of the Lufthansa is severely limited.” Schuchter says the release of land rights, which has called for the EU because of the state entry. And he fears the political influence on day-to-day business, although the government excludes the officially. The restructuring could be delayed. Also in the meantime call for the full acceptance of Airbus aircraft show the risks of state influence. “But we will agree to anyway, because there is no majority Alternative. An insolvency is uncertain.“
