Aberdeen Asset Management has "led the call" for other City investors to vote against Sports Direct's "embattled" Chair Keith Hellawell's re-election this week. Hellawell, 74, has "faced criticism from shareholders due to long-running concerns about the lack of corporate governance" at the sportswear firm. The influential shareholder group, ISS, also "urged shareholders to vote against" Hellawell for overseeing a "catalogue of governance and operational failures." While independent shareholders "may repeat their opposition" to Hellawell, it is "likely he will be spared" by Sports Direct Founder Mike Ashley, who owns the majority of the company with a 55% stake (London TELEGRAPH, 1/3).
Liberty Global and Vodafone "completed the creation of a joint venture" called VodafoneZiggo Group Holding B.V. The 50/50 Dutch operation will operate under both the Vodafone and Ziggo brands, "creating a nationwide integrated communications provider with 7.1 million homes passed by the cable network of Ziggo and the nationwide 4G mobile coverage of Vodafone’s presence in the Dutch market." The JV, first announced in Feb. '16, is valued at €3.5B ($3.6B) after deducting €7.3B ($7.6B) in debt held by Ziggo, the brand name of Liberty Global's Dutch operation (BDAILY, 1/3).
