Bertelsmann eyes the stockmarket.(Business)(Brief Article)
Economist (US), The, February, 2001
AN OLD publishing firm in a small north German town says that in three years' time a quarter of its shares might be floated on the stockmarket. Big deal? When the company is Bertelsmann, yes it is. Despite being based in Gutersloh, the company is a global media giant, spanning books, magazines, broadcasting and music. Lately it has been trying to weave the Internet into all of them. Always it has eschewed the stockmarket.
Like a handful of large German companies (see table), most of Bertelsmann's shares are owned by a Stiftung (foundation). Its rules ensure that the company is run not only for profit, but also for the benefit of its employees and social causes. And Reinhard Mohn, the firm's 79-year-old patriarch, has hitherto set his face against a flotation....
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