exemption for transactions with wholly owned subsidiaries allows controlling shareholders to circumvent the rule extensively … shareholders and creditors. Hence, if the Commission choses to go down this route it might end up with a comprehensive regulation …

In Germany, shareholders' agreements were discussed primarily as a company law issue but are of practical importance … also in listed companies. Shareholders' agreements occur primarily in family held stock corporations but are at least not … disclosed in all firms with different family members as shareholders. Forms of shareholders' agreements are: shareholder voting …