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2nd phase of China-Kazakh pipeline begins construction.pdf
railway connecting erra ilw ay conne cting hangchun northeast ilinProvince ussiaoficially opened ove
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A Song of Ice and Fire Volume 02 - A Clash of Kings.pdf
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Saving Molly A Research Veterinarian´s Choices-for the Love of Animals.pdf
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Retelling the Law Genesis, Exodus-Numbers, and Samuel-Kings as Sequential Hypertextual Reworkings of Deuteronomy-[Bartosz Adamczewski].pdf
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can fat only be funny a content analysis of fat stigmatization in mike and molly.pdf
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1010 THE EPIC OF KINGS HERO TALES OF ANCIENT PERSIA ....pdf
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Kings_and_Queens_of_England.pdf
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When controlling shareholders "live like kings": The case of Telecom Italia.pdf
We study the evolution of the control of Telecom Italia, the sixth telecom- munication company in the world by turnover, to provide evidence of an exemplary textbook case of minority expropriation. First, we analyse how Olivetti s and Pirelli s acquisition of Telecom Italia were carried out, and in particular who paid for the acquisition of control, tracing down all opera- tions carried out in the market by all listed companies in the group. Second, we provide evidence on that the implementation of pyramids in the case of Telecom Italia is connected with the existence of large private benets, mea- sured both via the size of premium paid for the acquisition and via the voting premium. Third, we investigate how minorities are aected by the pyrami- dal control. Our results reveal how minority protection is still inecient in the Italian market, despite the introduction of the Draghi reform in 1998, aimed to strength investor s and minority protection. While a consistent improvement in the Ita

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