Times Online- An influential politician, French senator Philippe Marini, has joined forces with rebel hedge funds in a campaign to stop Arcelor Mittal’s buyout of buyout of minority shareholders.
Mr Marini has submitted a written question to the French finance minister in which he states that Arcelor Mittal’s behaviour could set “a worrying precedent for the treatment of minority shareholders in France” and asks the minister to respond.
Meanwhile Jon Wood, the man behind one of Europe’s biggest hedge funds, has also joined the fray and today met French market regulator Autorites de Marches Financier (AMF).
Mr Wood, who made headlines last year in a bitter court battle with retail entrepreneur Sir Tom Hunter over an investment in The Gadget Shop, was a star trader who left UBS last year to set up a $3 billion Monaco-based hedge fund SRM Global.
