Stages in Creditanstalt’s “privatization”
1 The voting shares held by AVZ (Anteilsverwaltung Zentralsparkasse) and Wiener Holding in Bank Austria will be reduced to below 25% within five years (through exchange of shares or capital increase or sale). The voting rights of the excess holding will temporarily be exercised by trustees. When opportunities arise in the market, it is intended to reduce this percentage to below 20% within a further two years. From the sixth year onwards, the portion of voting rights in excess of 20% will also be exercised by trustees.
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