Tagged: unbundling

A more prudent approach in the “golden share” cases

Last week’s Grand Chamber judgments Commission v Germany (C-95/12) and Essent (C-105/12) may have brought some important clarifications on the “golden share” case law. They seem to point towards a more prudent, differentiated understanding of Art 63 TFEU in regard to the corporate governance of publicly owned companies. In the decision Commission v Germany, the Court dismissed an action brought under Art 260(2) TFEU for failure to comply with the 2007 VW law judgment; and in Essent it found Dutch measures ensuring public ownership of gas and electricity transmission system operators justifiable on public interest grounds.

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