Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Allegations of new ownership dispute in Klarna

An infected power struggle is currently unfolding between the major shareholders of the fintech company Klarna ahead of what is expected to be a stock exchange listing in 2025, reports the Financial Times. The founders' pre-emptive right to shares and the issue of a golden share, which can give extra great influence to certain owners, are said to be at the center of the dispute.

» Updated: 07 October 2024, 19:09

» Published: 28 August 2024

Allegations of new ownership dispute in Klarna
Photo: Claudio Bresciani/TT

The board will take up the question on Wednesday of whether Mikael Walther should be dismissed from the board after eight years, according to two sources. Walther is described as a close ally to Klarna's co-founder and major owner Victor Jacobsson.

Pre-emption right of shares

The dispute is said to revolve around the different views on how the company's founders – including Jacobsson – use their pre-emption right of shares in Klarna through so-called SPV companies (Special Purpose Vehicles). However, according to a newspaper source, there is also a dispute about whether, after the planned listing, there should be a so-called golden share in Klarna that gives certain shareholders significantly more influence than others.

Neither Klarna nor Walther has wanted to comment on the information, according to the newspaper.

Earlier this year, the same newspaper reported that the venture capital firm Sequoia, Klarna's largest owner, tried to dismiss co-founder and CEO Sebastian Siemiatkowski's ally on the board, Michael Moritz. However, this board battle ended with Sequoia making a deal with Moritz on continued confidence and instead replacing its representative on the board who had driven the campaign against Moritz with another Sequoia partner.

Ready for the stock exchange

Klarna's CEO Sebastian Siemiatkowski said in an interview with Dagens industri on Tuesday, in connection with an interim report, that it is reasonable and realistic to list the soon 20-year-old fintech company in 2025.

He has already previously stated – among other things to TT – that Klarna is ready for the stock exchange and that the listing is only a matter of timing.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

The Union Steps Up the Tesla Strike
1 MIN READ

The Union Steps Up the Tesla Strike

New French obstacles for Airbnb
1 MIN READ

New French obstacles for Airbnb

The Government Seeks Support for Those Affected by Northvolt
1 MIN READ

The Government Seeks Support for Those Affected by Northvolt

The regional tax will be raised next year
1 MIN READ

The regional tax will be raised next year

Astra Zeneca's China Chief Arrested by Police
1 MIN READ

Astra Zeneca's China Chief Arrested by Police

More rate cuts - but risk of turmoil with Trump
2 MIN READ

More rate cuts - but risk of turmoil with Trump

Svantesson: Trump's policy may increase inflation
2 MIN READ

Svantesson: Trump's policy may increase inflation

Major Banks Lower Mortgage Rates
1 MIN READ

Major Banks Lower Mortgage Rates

Central Bank Economist: Central Bank Cuts Interest Rate Too Late
2 MIN READ

Central Bank Economist: Central Bank Cuts Interest Rate Too Late

How You Are Affected by Lowered Interest Rates
2 MIN READ

How You Are Affected by Lowered Interest Rates

Thedéen expects turmoil after Trump's victory
2 MIN READ

Thedéen expects turmoil after Trump's victory

Inflation upswing does not threaten interest rate cuts
3 MIN READ

Inflation upswing does not threaten interest rate cuts

The Stockholm Stock Exchange Continues Upwards
1 MIN READ

The Stockholm Stock Exchange Continues Upwards

Most up on Asian stock exchanges
1 MIN READ

Most up on Asian stock exchanges

This is how your wallet can be affected by Trump's victory
2 MIN READ

This is how your wallet can be affected by Trump's victory

Cheerful on Wall Street after Trump win
1 MIN READ

Cheerful on Wall Street after Trump win

Thousand-kronor notes to be picked up when the Central Bank increases the pace
3 MIN READ

Thousand-kronor notes to be picked up when the Central Bank increases the pace

Swish up and running again after disruption
1 MIN READ

Swish up and running again after disruption

Trump's company is soaring on the stock exchange
1 MIN READ

Trump's company is soaring on the stock exchange

Swedish Export Threatened by Trump Victory
2 MIN READ

Swedish Export Threatened by Trump Victory