board resignations, page-14

ACS, via Hochtief, can only obtain value from LEI through dividends. So where is this widely asserted disadvantage in being a minority shareholder? The real danger is volatility - because ACS/HOT need the share price to remain stable, and high; so that their respective balance sheets don't need to be written back - the real risk is that bad news is buried or ignored. This is fundamentally important in the contracting sector because the bets are big, and the losses tend to match the wagers