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demutualise

   Also found in: Financial, Wikipedia 0.01 sec.
Translations
demutualise [diːˈmjuːtʃuəlaɪz] vi (British) [building society, insurance company] → se démutualiser


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But in the mid-1980s the Tories under Mrs Thatcher allowed building societies to demutualise and become public limited companies instead of mutually owned organisations, owned by the customers who borrowed and saved with the society.
In July 1989, the Abbey National became the first society to demutualise and in the decade that ensued, a further nine followed suit, including Northern Rock.
B&B was the last of the six to demutualise when in 1999 its members voted to sell up.
 
 
 
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