This time last year commentators were bullish on the prospect for European markets, citing a number ...
This time last year commentators were bullish on the prospect for European markets, citing a number of positive factors, including a positive economic outlook and greater emphasis on shareholder value and improving returns on capital. Although the economic arguments put forward have broadly proved right, 1999 has been a dire year from a shareholder value point of view and has done nothing to improve Europe's reputation as being shareholder unfriendly. The reason for this has partly been the proliferation of corporate activity that has taken place. Although the majority of deals have bee...
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