Great tension at Parmalat's meeting today in Milan in which the minority shareholders will ask for damages and the liability action against the nine members of the board of directors for 2011.2012-XNUMX, for which the Rome Public Prosecutor's Office has recently requested referral to proceedings for obstruction of Consob supervision. The minority shareholders especially accuse the management of liquidity entrusted to the French of Lactalis.
Despite the great mobilization of minority shareholders on the initiative of the London fund Amber Capital, which holds 4% of Parmalat, and of the proxis advisor Glass Lewis, the outcome of the meeting appears obvious because the French of Lactalis have the majority and will not allow the liability action. However, this does not exclude that the controversies become red-hot and heat up the meeting.
It should not be forgotten that among the minority shareholders, which account for around 10%, there is also the Bank of Italy.
In addition to the management of the past, one of the hot topics of the meeting will be the failed delisting of the title, which it is thought that the French will want to try again after the failure of the takeover bid, which almost reached the threshold of 90% of the capital.
