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JCDecaux is not wanted at Wall AG
Wall AG acknowledges the
participation of JCDecaux SA and examines claims for damages against
the Berlin AG banking company
Berlin (ots) - The Berlin-based Wall AG, the leading company in the sector for high-quality and customized town furniture, has acknowledged that JCDecaux SA has acquired an 11.1% interest in Wall AG.
The main shareholders and the board of directors of Wall AG have not welcomed this participation.
The unauthorized sale of Wall shares was conducted by BCF, a participation company of the Berlin AG banking company. Wall AG is examining the matter to ascertain whether claims for damages can be put forward.
Hans Wall, chairman of the board of directors and majority shareholder at Wall AG, commented on the sale of the shares by saying: 'We are very disappointed by the actions taken by BFC and the Landesbank Berlin. It's a sign of incompetence when a block of shares from a medium-sized company is sold without consultation and, what's more, to the main competitor.'
The participation of JCDecaux SA does not influence company decisions, whether on the board of directors or the supervisory board of Wall AG. Therefore, this participation does not represent a strategic but a purely financial participation.
ots Originaltext: Wall AG
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