He claimed it confirmed the golden shares
were not with the club's trading arm Coventry City Football Club (Holdings) Ltd, as the club appears to claim.
It also argued that the scheme does not apply to companies already privatised in which the state holds golden shares
, but to strategic undertakings that have not yet been privatised.
The EU Court of Justice thus remained totally in line with its established case law, ruling, on 10 November, against the practice of creating golden shares
And on Thursday the ECJ fully backed the commission's argument, saying, "the holding of golden shares
confers on Portugal an influence on the management of PT which is not justified by the size of its shareholding.
The European court said that the government's golden shares
give a too strong hold over the company and discourage investors.
He said that, given EADS' role in Europe's security, the use of golden shares
would help the group - which apart from its range of Airbus airliners also makes military transport aircraft, defence electronics and telecommunications satellites - fend off a hostile takeover in the event of such a move.
In September, a European Court of Justice ruling required the Dutch government to give up their golden shares
in major companies.
In 2003 the European Court of Justice ruled a golden share
was incompatible with EU law and Spain said last November it would fast-track legislation to abolish its golden shares
Under certain limited conditions, I believe firms issuing golden shares
should be allowed to remain listed,'' Sugiyama said.
Governments often use golden shares
as a method of retaining control in a privatised company of strategic importance, but is there a better way to protect national interests?
News that the Government is to give up its golden shares
in National Power helped the stock.
Since March 10, Golden shares
have gone from 2 cents to a Thursday close of 10 cents.