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SAS shares plunge 95% as restructuring wipes out owners
© Reuters. FILE PHOTO: Scandinavian Airlines (SAS) flights are seen listed at Copenhagen Airport Kastrup in Copenhagen, Denmark, July 3, 2022. REUTERS/Andrew Kelly/File Photo
COPENHAGEN (Reuters) – Shares in SAS tumbled 95% in opening trade on Wednesday after the Scandinavian airline announced new big shareholders late on Tuesday in a deal that will see the group delisted from bourses and existing shareholder stakes’ values reduced to zero.
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