golden share

Definition

A type of share in a publicly-traded company that provides the shareholder with certain veto benefits. An individual possessing a golden share may veto any potential changes to the company's charter despite the number of shareholders that may want the change. The British government was the first entity to implement golden shares in order to maintain control over national companies that were privatized by them during the 1980s. The European Union has now made the issuance of such shares illegal.
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