, : , , , . , . ,
1 Betronechc, M., Share-buybacks: The European and
Japanese experience, Harvard Business School, 9-298-134.
2 Share buy-backs: the fifth element, MS Dean Witter, 11 Febr. 1998.
:J. P. Morgan, GlobalM&A Review January 1999. . 6.7.
, , , , . , . , , .
, , , , , , :
6.9.
| ? | ( 5%) | ||
| ? | : 50% : 80% | : | |
| 18 | 18 | ||
| 10% | 10% | ||
| , | |||
| ? | |||
| ? | ; 50% : | : |
|
|
|
| ( ) | |||
| : 1 : 2/3 | : 1/3 : 2/3 | :50% : | |
| 2 | 18 | ||
| 5% | 10% | 10% | 10% |
| - | , 6 | ||
| ; | 1998 . KonTraG, | ||
| ( ) | |||
| : 50% : 66,75% | : 2/3, | . | : : 75% , |
. 6.9
| 18 | |||
| 50% | 10% | ||
| , | 35% | ||
| , , 1999 . |
| 18 | 18 | ||
| 5% | 10% | 15% - | |
| , | ( ) | ||
| - | : | ||
| , 10% , 1999 . | 1998 .: 6 | 1999 . 10% |
|
|
|
, 1.
