Representatives of domestic and foreign shareholders, who together hold 41 percent of the utility, are on its board.

China Airlines' became the largest foreign shareholder with a 25% stake.

That is because they have large numbers of foreign shareholders, who have raised the pressure in recent years to increase pay based on performance.

Fund managers say the still-unresolved issue is yet another example of discrimination against foreign shareholders.

The case is just the most recent instance of conflict between major Russian companies and foreign shareholders.

Others are hesitant to receive foreign shareholders and analysts when they visit China.

And many Russian managers fear foreign shareholders for the demands they make.

Currently, foreign shareholders can control only up to 25 percent of an airline's voting stock.

It is also noted for the fact that it has many foreign shareholders.

Current foreign shareholders are among the biggest opponents of the reorganization plan.