PARIS (Reuters) – French media conglomerate Vivendi <VIV.PA> and activist fund Amber Capital – the two biggest shareholders in French company Lagardere <LAGA.PA> – said they would seek a legal challenge over Lagardere’s refusal to hold a special shareholders meeting.
Late on Monday, Lagardere said it had rejected a request by activist fund Amber and Vivendi to hold an extraordinary general meeting (EGM), aimed at giving Amber and Vivendi boardroom seats at Lagardere to hold greater influence over the company.
“Following the refusal by the Supervisory Board and the Managing Partners of Lagardère concerning the respective proposals from Amber Capital and Vivendi, these two companies will refer the matter to the Paris Commercial Tribunal to seek a shareholders meeting, in accordance with the law and with their August 10 agreements,” the companies said in a joint statement.
(Reporting by Sudip Kar-Gupta; Editing by Christian Schmollinger)
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