The letter, signed by the CEO of P. Schoenfeld Asset Management (PSAM), Peter Schoenfeld, is a response to a previous letter from Vivendi to the shareholder.
The French group threatened PSAM of possible legal action if, alone or together with other shareholders, it exceeded 20% of Vivendi while the French law prohibits the detention of more than 20% of the share capital of a TV company by non-European foreigners.
“only” 1% of Vivendi
” We have received a letter whose purpose seems to be to intimidate us. We believe that this attitude is totally unacceptable, “writes Peter Schoenfeld in his letter.
He also claims that Vivendi make public any information in relation to the composition of its shareholders, to prove that the maximum threshold of 20% of non-shareholders European, planned since 1986, has never been surpassed.
“We’d also like to have confirmation that the letter we received was sent to each shareholder of Vivendi regarded as outside according to this law, and that it was also (in their case) show the threat of legal action in court, “said the CEO of PSAM funds.
PSAM denouncing the “interference” of Vivendi …
This says to reserve the right to claim compensation, mainly because of “interference” of Vivendi in the resolutions PSAM wishes to submit to the shareholders of the French group.
P. Schoenfeld Asset Management seeks to curb executive’s compensation strategy Vivendi , proposing the distribution of € 9 billion to shareholders.
… and calls for a special dividend
PSAM announced Monday it filed two resolutions for this purpose, one calling for a dividend increase, the other the payment of a special dividend.
In response, the Vivendi confirmed Wednesday it would ask its shareholders to “vote against or abstain.”
(With AFP)
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