European Stars and Stripes (Newspaper) - October 01, 1989, Darmstadt, Hesse                                The stars and stripes Page 19 vandals Friday broke off parts of the legs of the horses at the famous Neptune foun Tain on Florence s Piazza Delia Signoria authorities said. Police said they had no vandalized again idea who damaged the Marble Fountain which features the Majestic figure of Nep tune standing on a Chariot drawn by four horses. Police said two horses legs were broken off and smashed to pieces by Van dals. The Neptune Fountain created by florentine sculptor Bartomomeo a Manuti Between 1563 and 1575, is on the Square thai has been the Hub of florentine life since the Middle Ages. The Fountain was restored in 1981, but it has suffered from vandalism in recent years. Northwest s new owners will limit Kim s role Washington not bowing to pressure from the Bush administration the investment group that has taken Over Northwest airlines agreed Friday to reduce the equity held by Kim the dutch airline and to restrict Kim s Power on Northwest s Board. In Exchange the transportation department dropped its objections to the transaction and sus Pended a review of whether the acquisition with its heavy Burden of debt and considerable foreign participation had made the airline unfit to Fly. Although Alfred Chicchi the Leader of the invest ment group accepted the transportation depart ment s conditions he did so without the approval of the dutch airline. Pictor Bouw Kim s managing director said in a statement Friday thai Kim objects to the limitations placed on its investment and  however he added that the dutch company Reaf firms its Strong relationship with the new manage ment of Northwest and that Kim expects to resolve these matters soon in future discussions with the department of  an official connected with the investment group said that Kim would have no Choice but to sell Back some of its preferred non voting Stock. Future discussions with american authorities this official said would focus on issues other than the size of Kim s direct investment. The transportation department in a signal that trouble might also be ahead for British airways participation in the buyout of the Parent of United airlines said it considers factors other than direct financial control of an airline As grounds for rejecting foreign participation. Such factors include non voting equity investments marketing agreements Between airlines interlocking boards of directors and the effect on International Competition on major routes. But the department said it would review any airline Deal on its own merits rather than try to write rigid rules. The agreement comes at a time when virtually no major airline is considered immune to a takeover and when members of Congress arc drafting legislation affecting Competition and concentration in the Industry. Kim which had planned to put up $400 million or 57 percent of the total equity in the acquisition of Northwest has been ordered to Cut that to $175 Mil lion or 25 percent of the total. The dutch airline would also have to give up its right to establish a financial advisory committee to review the company s actions and its representative on the new Board could not participate in decisions about sensitive competitive and International aviation  in a legally binding consent order issued Friday the government asserted that had these Steps not been taken Kim could be in a position 19 exert actual control Over the airline even though it would hold just 5 percent of the voting Stock. Federal Law limits foreign ownership to 25 percent of the voting Stock of a Domestic Carrier but docs not address the question of equity capital. The agreement was announced Friday at a joint news conference held by transportation Secretary Samuel k. Skinner and Checchi. Chicchi is the new chairman of Northwest s Parent company. Nwa inc., and the president of wings holdings inc., which Aqui Rcd the airline for $3.65 Bil lion in August. Chicchi in a statement said wings disagreed with the government s Contention that Kim would have effectively controlled the . Airline As the transaction was originally structured. At the same time we do not believe it is in any one s Best interests to enter into protracted litigation with the prolonged uncertainty and management diversion that would result he said. A transportation department official who negotiated the agreement said the understanding was that new equity shareholders would be found who arc not foreigners. Although Skinner Friday refused to elaborate on the transportation department s policy regarding takeovers his actions in the Northwest Case arc viewed in the Industry and among Federal officials As an important precedent. The agreement is especially pertinent to the Case of United airlines which has announced a leveraged buyout by its senior managers and pilots and in which British airways is a major foreign investor. No Mutual funds because of transmission difficulties the Mutual funds were not available for this edition