ABSTRACT: In late 1999 the German guidance made a surprise announcement that it would repeal the large and long-standing capital gains tax forward sales of corporate crossholdings effective in 2002 The repeal has been hailed as a revolutionary degree toward breaking up the extensive web of crossholdings among German companies.

ABSTRACT: In late 1999 the German guidance made a surprise announcement that it would repeal the large and long-standing capital gains tax forward sales of corporate crossholdings effective in 2002 The repeal has been hailed as a revolutionary degree toward breaking up the extensive web of crossholdings among German companies. The lock-in purport from the large corporate capital gains tax was said to act as a barrier to efficient acquisition and divestiture of German firms and divisions. Many beholders predicted that once the lock-in event was removed, Germany would experience a

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