Prisa shareholder Amber Capital increases stake to 16.88% ahead of 1 April AGM
French activist hedge fund Amber Capital has increased its stake in Spanish media group Prisa, El Confidencial reported, without citing sources. According to the report, Amber has increased its holding to 16.88% from the 14% it held in December, and is Prisa’s second main shareholder just behind the 17.52% held by the Polanco family.
The stake increase will take place in the days leading up to Prisa's annual shareholders' meeting scheduled for noon on 1 April.
This news service previously reported that Amber Chief Executive Joseph Oughourlian may be looking to force the exit of Prisa Chairman Juan Luis Cebrian, who has been a Prisa board member for the past 32 years.
Prisa’s official response to Amber’s moves has been to bolster its support of Cebrian and postpone his retirement by two years, to 2020, El Confidencial noted.
El Confidencial, previously reported intelligence