Angola: Amended Public Business Law Introduces Golden Shares Figure

Luanda — The amendment made to the Basic Law of Public Business Sector, approved on Tuesday by the parliament, introduces the figure of "golden shares", to allow the State to safeguard strategic interests in various companies without harming their operation.

The golden shares" or "privileged shares", is a figure based on respect for private initiative and the State's dismissal from the enormous weight of the public business structure, but also on the essential need to maintain a certain degree of intervention due to the strategic importance of companies for the economy and for the satisfaction of essential needs.

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