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Axel Springer opts against legal change of entity
February 12, 2016 / 6:21 PM / 2 years ago

Axel Springer opts against legal change of entity

FRANKFURT, Feb 12 (Reuters) - German publisher Axel Springer SE scrapped plans to change its legal form to KGaA, which would have allowed the company to take on new investors with little influence while keeping majority owner Friede Springer in full control.

The company said that it and Friede Springer, the widow of the group’s founder, “have jointly come to the conclusion that the existing legal form of a SE (Societas Europaea) is the better alternative for the long-term development of the company and its attractiveness for the capital market”

“Axel Springer SE remains committed to the goal of becoming the leading digital publisher and will, if necessary, use other suitable options to raise capital,” it added.

Reporting by Ludwig Burger; Editing by Elaine Hardcastle

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