Fidelity, a shareholder in Aegis, is considering blocking Vincent Bollore’s bid for two seats on the Aegis board, according to reports in the trade press.
The news of Fidelity’s opposition to Bollores nominees follows reports in the French press that Aegis could contact the Takeover Panel concerning suspicions that Bollore is working with another investor, which would see his holding rise above 30% and trigger a complete takeover.
According to the French newspaper reports, Bollore is working with Manila-based fund EFL, which has a 2% stake in Aegis, and when combined with Bollore’s 29.1% stake this would require Bollore to make a bid under UK law.
Bollore failed in his bit to gain two seats on the Aegis board at the firm’s AGM in June, with 58.3% of shareholders voting against his nominations (see Bollore Fails In Board Bid).
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