Magazine content is available exclusively for TIME subscribers.Business: Happy Holding in Luxembourg
As befits a tiny country in the Ardennes hills between France and Belgium, the Grand Duchy of Luxembourg has long been a hospitable tourist center of quiet pastoral charms. Recently the hospitality has been extended to a special group of visitors—executives of U.S. and European blue-chip companies who stay just long enough to enjoy a meal at Au Gourmet and to attend the annual meeting of their new holding companies. Domiciled for the record in a local bank or lawyer's office, such holding companies have hit the European money market for more than...
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