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Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on February 27, 2019, 08:39:13 AM
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Air-France KLM: Dutch surprise France by taking airline stake
BBC News
France has reacted frostily to the Dutch government's sudden purchase of a 12.7% stake in Air France-KLM in attempt to counter French influence.
Shares in the airline company fell almost 11% after the Netherlands government said late on Tuesday it was acting to protect "Dutch interests".
The Dutch aim to match France's 14.3% stake in the airline.
French Finance Minister Bruno Le Maire insisted the company should be "managed without national public interference".
According to French reports, the government in Paris was informed of the Dutch move only an hour before a press conference on Tuesday night, and after the shares had been bought.
A ministry source told AFP news agency the Dutch move was both "surprising" and "unfriendly", more in the manner of market traders than a state shareholder.
Meanwhile, French President Emmanuel Macron said the Dutch government should "clarify its intentions".
What the Dutch say
"Buying this stake ensures we have a seat at the table," Dutch Finance Minister Wopke Hoekstra said of the move, which cost about €680m (£583m; $774m).
The justification, he said, was to protect Dutch economic interests and jobs - particularly regarding Amsterdam's Schiphol airport. Schiphol is Europe's third busiest airport after London Heathrow and Paris Charles de Gaulle.
https://www.bbc.com/news/world-europe-47386140 (https://www.bbc.com/news/world-europe-47386140)
It's interesting how business is done in Europe. This alliance isn't working if both your governments need to own a stake in the company.
Can anyone shed some light on why this is happening?
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Bad decision at the time to sell KLM to the French
French always strike, the French state always will resists how markets work. They never learn
KLM will be much better off with a well run large airline (NOT from any southern European state)
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Bad decision at the time to sell KLM to the French
French always strike, the French state always will resists how markets work. They never learn
KLM will be much better off with a well run large airline (NOT from any southern European state)
1 X on KLM flight from Amsterdam to Lima (1h stop in Aruba) 17 hours :P