In the dispute over revising Germany’s VW Law, justice minister Brigitte Zypries is standing firm on the issue of retaining a 20% blocking minority, effectively giving the state of Lower Saxony a power of veto in major decision making.


Yesterday the European Commission’s internal markets commissioner, Charlie McCreevy, sent a letter to the German government outlining concerns that the revised law retains a clause that requires 80% of shareholders to approve decisions, whilst most companies need only 75% approval.


The law is being revised to comply with a European Court of Justice ruling at the end of last year that the VW Law hindered the free movement of  capital.


Zypries today replied to McCreevy, saying: “I do not recognise that the blocking minority, which is a departure from the general share law, blocks the free movement of capital,” reported Reuters.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.