Originally Posted by
DublinPole
Recently there has been an argument that if Polish State Airports does not want to invest in the airport and wants to continue to frustrate any expansion, they should hand over the shares to the parties that do want to, to let them get on with it so all the state money invested in building it is not wasted if it goes to the wall.
PPL's reaction was that they would not be doing so as they are a commercial company so they do not understand why some would consider it money of the state and the only people who would be wasting the states money is the local authorities who will not accept their VERY generous offer of recapitalising the airport in exchange for a majority stake and abolishing the unanimity rule.
The fact they will only allow a majority vote to be binding when they have a majority but disallow it when someone else does, tells you all that you need to know about what kind of situation it is.
If they allow it to get bust it will get interesting as they will seek to allow PPL to acquire it cheaply but that will most definitely fall foul of EU competition law.