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ABB Ltd. supplies products for electricity grids; its machinery and designs help utility and industry customers become more energy efficient.
Nearly 90% of ABB's shareholder equity are now intangible assets. Spending 15 Billion to buy nothing in order to avoid paying taxes on your income seems to be a rather infantile approach to business. The only group that benefits from this is management. Unfortunately, ABB shareholders will be stuck with this bill for much longer than any revolving door executive burglars that pay themselves fat bonuses.
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