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20 April 2015 • Articles

Decideurs - Strategie Finance Droit, France

La bataille du droit de vote double

Louis Barbier, Sodali Country Manager for France, highlights for Decideurs the concerns raised in the context of Vivendi and Renault AGM: the maintain of one-share one-vote principle was, in fact, rejected at Vivendi AGM while Renault board of Directors is still fighting with the French State to get the same resolution approved at upcoming Renault AGM on April 30th.

Louis Barbier well explains the two reasons behind the rejection of double voting rights from institutional investors. The first one, a matter of equity: power must be proportional to the share capital, the reverse may create abuse. The second one is a technical reason: to get the double voting right you need registered shares, hardly compatible with a professional investment approach.

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