WSJ – A disagreement between Vivendi SA and one of its shareholders gathered pace on Tuesday, as a prominent U.S. hedge fund tried to rally support from other shareholders in its quest to obtain higher dividends, while Vivendi resisted.
P. Schoenfeld Asset Management came to Paris with one main message: Vivendi should share its war chest with shareholders. “The amount of money in Vivendi’s coffers is irrational,” said the fund’s chief executive, Peter Schoenfeld, in a meeting with journalists. “There is one clear issue: The dividend is inadequate.”
