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Telegraph Shareholders Protest Vote
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A number of institutional investors will be ‘positively abstaining’ from the vote to approve a controversial plan by Conrad Black to sell an 11% stake in loss-making Canadian publisher Southam to the Telegraph. A number of institutions see this latest move as confirmation of their concerns over Black’s stewardship of the newspaper group. As a result some have stated they would not buy shares in the UK group whilst Black retained majority control.