Even before starting, theImpregilo shareholders' meeting gave the first sparks. At the two corners of the ring, as always, gavio (who owns 29,959% through Igli) e Salini (29,949%), for some time now struggling to conquer the absolute power at the top of the first Italian general contractor. Ready Set Go. The checkered flag of the assembly has just waved – started an hour and a half late – Gavio asked to postpone everything to 3 September.
The goal was to buy time, waiting for the 22 August Vincenzo Peroziello, civil judge of Milan, to give a definitive opinion on Gavio's appeal against the proxies gathered by Salini.
Meanwhile, yesterday the same civil court of the Lombard capital had rejected the appeal urgently presented by Igli, who wanted to block the proxies of the Roman group already for today's meeting. This morning, however, two other urgent appeals presented by Salini against Igli were rejected, accused of having entered into a secret pact with some minority shareholders (including Mediobanca and Banca Carige) to obtain control of Impregilo.
"Everything has been done to try to block this assembly, to prevent members from expressing themselves. We have collected over 870 proxies, we need respect for the many members who have come from afar". These are the words of Pietro Salini, who asked the shareholders not to accept the postponement request made by Gavio.
In today's meeting - convened at the request of the Roman group - the members will have to decide whether revolutionize or not the Board of Directors. The votes of the funds (such as Amber Capital, which has risen to 7,261% of the capital) and of the banks will be decisive.
“Every kind of possible and imaginable pressure was exerted on the shareholders who gave Salini proxies to make them change their minds – added Salini -. I am not aware that this can be done, it is profoundly incorrect".
In the assembly they are following each other the interventions of the various members, such as that of the lawyer Sergio Erede (close to Salini) on behalf of the shareholder Marelli, who defined the Gavio group's proposal as “not unexpected but extremely inopportune, demonstrating the shareholder Igli's lack of respect for the market. The proposal to postpone the meeting is specious, unfounded and illegitimate”.
Many small shareholders instead they would like an armistice, in the hope that an agreement between the two great enemies is still possible.
