Privatisation, Large Shareholders, and Sequential Auctions of Shares

Abstract

We study the government’s decision to sell a state-owned enterprise to strategic investors in a common value auction setting. The government can choose to sell his control stake all at once, or to design a sequential auction of shares. The sequential auction allows information transmission, so that the winner of the first stake receives a signal about the… (More)

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@inproceedings{Mattei2001PrivatisationLS, title={Privatisation, Large Shareholders, and Sequential Auctions of Shares}, author={Eni Enrico Mattei and Bernardo Bortolotti and NOTA DI LAVORO and Enrico Mattei and Gian Luigi Albano and Francis Bloch}, year={2001} }