According to Thiele-Interview: Lufthansa warns of Failure of the rescue package

A week before the decisive meeting of shareholders, the Lufthansa warns that the Federal government agreed billion rescue package might fail. According to the m

According to Thiele-Interview: Lufthansa warns of Failure of the rescue package

A week before the decisive meeting of shareholders, the Lufthansa warns that the Federal government agreed billion rescue package might fail. According to the most recent Statements of your single biggest shareholder Heinz Hermann Thiele, the company's Management says that the implementation of the rescue package was not yet secured. The group haltees possible that the necessary two-thirds majority of the shareholders at the annual General meeting on may 25. June will be missed, shared with Lufthansa on Wednesday.

"This would mean that Deutsche Lufthansa AG may have to apply in a timely manner for the annual General meeting eininsolvenzrechtliches protection proceedings, if it comes immediately to a different solution." The group's Executive Board therefore addressed to all shareholders, the haunting appeal, their right to vote. The deadline for registration for participation in the General meeting is, therefore, of the 20. June, 24: 00.

the Background of the Statements made by the major shareholder Heinz Hermann Thiele in an Interview in the "Frankfurter Allgemeine Zeitung", in which he expresses criticism of the government rescue package.Thiele calls that the package is tracked is.Before all impetus to the envisaged Involvement of the Federal government of 20 percent,for a capital increase is necessary, which reduces the value of his shares Ernimmt. "Lufthansa needs for rehabilitation and recovery, no state participation," says Thiele.

Thiele had increased its stake Recently by about 10 percent above the reportable threshold of 15 percent. This Aufstockungsei "no Signal to vote at the annual General meeting for anything," says Thiele in the Interview.He adds, however, that he had formed to the main Assembly decisions is still no final opinion.

However, Thiele is not the only one that has increased its share significantly. On Wednesday morning, it became known that the American investment company Morgan Stanley holds more than 7 per cent of the shares. Reportedly, a single customer is not behind but, rather, Morgan Stanley has purchased this Lufthansa shares on behalf of several clients – act as independently of each other. The investment Bank is required to report to the several customers, held shares of a company but in sum, and was thus above the regulatory reporting threshold of 5 percent.

LUFTHANSA -- -- (--) Xetra London SE Int. Level 1TradegateStuttgartLang & black Frankfurt Switzerland OTCSchweiz OTCWienSchweizSchweiz 1T 1W 3M 1J shareholder with 15 per cent to prevent 3J 5J For detail view

the Case of a small presence at the annual General meeting of the billion-dollar big a consent to the rescue package. How stubbornly he pursues his goals, demonstrated to the owner of the supplier, Knorr-Bremse four years ago. The Munich prevented in a bidding war that the automotive supplier ZF Friedrichshafen, the Swedish brake manufacturer could take Haldex.

Updated Date: 17 June 2020, 17:19

You need to login to comment.

Please register or login.

RELATED NEWS