—“France is ready to use the ultimate weapon to protect its biggest companies from the market turmoil set in motion by the coronavirus: nationalization.”—
What does nationalization mean? The state ‘buys’ the corporation (its shares), directly from the company (not existing investors), at a discount (30%-50%), at market prices, vacates all non-vendor debt (all borrowing), restoring fiscal health, and appoints a receiver, and a board member, with veto power over dispersals. The state may also invest additional funds for strategic purposes. Especially research and development, or modernization.
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