(finance/economics/politics) (a) The right of a government to exercise veto power over a company’s wishes to materially change its articles of association. This term came into use in the 1980s to refer to France’s and Spain’s continued control of companies they had privatized.
(b) A holding of voting stock in a company sufficient to exercise control of the company. Usually, this means 51% of the voting stock. However, if the balance of the voting stock is evenly divided over an issue, control of as little as 10 percent of the voting stock can control a company.