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Ikea founder determined to keep company private

Published on Dec 4, 2012 7:20 AM
 
Ikea founder Ingvar Kamprad poses prior to the inauguration of the Margaretha Kamprad Chair of Environmental Science and Limnology on Dec 3, 2012 at the Swiss Federal Institutes of Technology of Lausanne (EPFL) in Lausanne. Kamprad, 86, is determined to keep the Swedish furniture giant off the stock exchange, he told AFP ahead of the inauguration in honour of his late wife. -- PHOTO: AFP

LAUSANNE (AFP) - Ikea founder Ingvar Kamprad is determined to keep the Swedish furniture giant off the stock exchange, he told AFP ahead of the inauguration Monday of a fellowship in honour of his late wife.

Mr Kamprad, 86, told AFP in an email he had "always believed that keeping (Ikea) in private hands would give ... more flexibility to develop successfully, allowing a longer-term perspective on business development."

Mr Kamprad's comments came ahead of the opening Monday of the Margaretha Kamprad Chair of Environmental Science and Limnology at the EPFL technology institute in Lausanne.

Mr Kamprad, who founded the unlisted, family-owned company in 1943, no longer gives interviews and did not speak at the event, but did answer a few questions electronically.

 
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