The Norwegian state is the majority shareholder in Statoil, and also holds a 40% stake in Norsk Hydro.
Telecom Italia's statutes state that the biggest shareholder is allowed to appoint four-fifths, or 16 seats, of its 20-member board.
The state investment fund also guaranteed it will maintain a controlling shareholder position in 10 other major state-owned financial institutions.
Last week the head of France Telecom, whose biggest shareholder is the French state, with a 27 percent stake, presented the company's plan to deal with the suicides to economy minister Christine Lagarde at a meeting in Paris, after which Lagarde said Lombard had her "full and total confidence".
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DiNapoli, acting as trustee of the state pension fund, in November filed a shareholder resolution calling on the company to analyze whether it would reduce its long-term liability by removing contaminated sediment outside the current cleanup zone.
Rio was seeking to shore up its finances (and fend off any future bids) by bringing in Chinalco, a state-owned Chinese firm, as a big shareholder.
Ms. STEELMAN: There's a shareholder risk to holding these stocks, and as state treasurer, I believe I had a fiduciary responsibility to protect these pension funds.
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If these improprieties had taken place at Goldman Sachs or Morgan Stanley, C-level executives would have been frog marched out of their office buildings in handcuffs and a flood of shareholder class action lawsuits would have been filed in state and federal courts across the nation.
Shareholder litigation will probably be led by a politically powerful state pension fund or equally powerful union pension fund.
Its largest shareholder (55%) is the Shenzhen City SASAC (State-owned Assets Supervision and Administration Commission).
With no need to pay dividends (state firms do not have to make any transfers to central government) and little shareholder pressure to ensure that their investment is cost-effective, Chinese firms went on a capital-spending binge, concentrated in industries such as aluminium, steel, car production and cement.
Does Hartmut Mehdorn, the head of Deutsche Bahn whose contract ends in 2008, really want to saddle his successor with the kind of problems faced by Mr Obermann at Deutsche Telekom: shareholder pressure on one side and powerful unions, plus a legacy of state ownership on the other?
Mr. Orsi's arrest is particularly politically sensitive because the Italian state owns slightly more than 30% of the defense company, making it the single largest shareholder.
Having narrowly failed to secure similar bylaw changes this year at Dell and Office Depot, the American Federation of State, County and Municipal Employees (a trade union and, through its pension fund, an activist shareholder), plans to bring similar votes at six companies at least in 2010.
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