As an Osram shareholder, Siemens was and is not satisfied with Osram’s recent share price development. Due to the shift in Osram’s strategy, the value of Siemens’ stake in the company has declined from some €940 million to about €680 million.
Siemens’ Managing Board received no prior notification of the content or timing of Osram’s ad hoc communication of November 10, 2015. Osram’s
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