Reuters – Dutch-based media group Wegener said on Friday it had talked to British fund Governance for Owners but had not come under pressure over its strategy amid a mounting debate over shareholderactivism.<\/p>\n
Dutch financial daily Het Fianancieele Dagblad reported Governance for Owners (GO), which recently boosted its stake in Wegener to 5.12 percent and has been a shareholder in the firm for around a year, was having “constructive talks” with Wegener over the firm’s future.<\/p>\n
GO says on its website its European Focus Fund aims to “address key structural or strategic governance weaknesses that have impaired company performance”.<\/p>\n
By 0753 GMT, Wegener shares traded up 6.2 percent at 9.40 euros, outperforming Amsterdam’s small-cap index, which was up 0.4 percent <.ASCX>.<\/p>\n
With a debate going on in the Netherlands about hedge fund activism and private equity buyouts, GO’s director Robert Hindle Fisher told Financieele Dagblad: “We focus on the long term, our investments last a minimum of three years. Accordingly we work together with management and not against them.”<\/p>\n
Wegener chief financial officer Jan Wegstapel told Reuters: “Of course we speak to GO as we speak to all our shareholders… but we don’t experience any pressure from them.”<\/p>\n