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OWNERSHIP of the Sotheby's auction house is likely to change after last week's conviction of its former chairman, Alfred Taubman, for conspiring to fix commission rates with the firm's rival, Christie's.
- Article from:
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Sunday Business (London, England)
- Article date:
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December 9, 2001
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Copyright informationCOPYRIGHT 2001 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OWNERSHIP of the Sotheby's auction house is likely to change after last week's conviction of its former chairman, Alfred Taubman, for conspiring to fix commission rates with the firm's rival, Christie's.
Taubman, who still has a 22.5% stake in New York-based Sotheby's, despite resigning his chairmanship because of the court case, retained bankers Credit Suisse First Boston last January to advise him on strategic options, including the possible sale of his stake in the 256-year-old auctioneer.
Sources close to Taubman say a decision is more likely now that the distraction of the trial, at the Lower Manhattan Federal Court in New York, is over, even though he faces a ...
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