iPhone | iPad
Android
Huawei
In just two days, their efforts have made a significant impact, benefiting over 10,000 people in flooded areas
KT APPDOWNLOAD
Investors, banks reach deal on World Online IPO
AMSTERDAM - The Dutch VEB investors lobby said on Wednesday it had reached a settlement with banks related to the initial public offering of World Online in 2000, a high-profile dot-com flotation that went spectacularly wrong.
VEB said it would take several more months to finalise the deal with Royal Bank of Scotland Plc — the legal successor in the case to now slimmed-down state bank ABN Amro — and Goldman Sachs.
It said the 12,000 claimants it represents could share a maximum amount of 110 million euros ($147 million) which would, with interest, be more than their share of losses up to April 3, 2000.
The deal follows a November 2009 High Court ruling that World Online and the banks accompanying the March 17 IPO had painted too rosy a picture of the value and prospects of the company, which went to market at the height of the dot-com bubble.
World Online was founded in 1995 by Nina Brink and was a leading Dutch Internet service provider. It was floated at 43 euros in March 17, giving it a value of 12 billion euros, but its share price collapsed after revelations of some events prior to the introduction, particularly Brink’s sale of her stake three mnonths earlier for a fraction of the IPO price.
Brink was dismissed as chief executive in April 2000, and Italy’s Tiscali acquired the firm later that year.
More news from
Shahvez Khan recounts heart pounding sequence of events from ground zero
This strategic move seeks to optimise the film's presentation and ensure maximum exposure on Imax screens
Erdogan can only expect a 'very limited' role because of his outspoken condemnation of Israel and its actions in Gaza
The quake occurred at a depth of 160km
Both sides will be looking to come off the bottom of the IPL table and earn some valuable points
Paul Griffiths assured travellers that all partners were working towards the "welfare of guests and returning operations"
He acknowledged the 'unacceptable' wait times for passengers and outlined the airline's efforts to restore ops, which he called 'far from perfect'
