In the hurry group all the swords are high, although the balance, for the moment, has leaned to the side. A priori, on the side of the president himself, Joseph Oughourlian, just appointed president of ‘El País’. The new goal is to arrive with the … necessary forces to Board of Shareholders That, in principle, is scheduled for next June. By then, Oughourlian hopes to have a “comfortable majority” to approve the latest changes in the Council and stay in charge of the company’s management.
To do this, as ABC has been able to know, it is confident that several convertible bond holders change them by actions before that key date, and thus be able to have more support against those that the sources of their environment qualify “Rebels”.
The sources consulted explain to this newspaper that several of the institutional investors that the president himself managed to attract to buy these bonds, have assured him that they will support him in his Battle against shareholders That today they currently have only 17% set – around the Alconaba group -, compared to 29.8% through its Amber Capital Investment Fund. They add that this main percentage would join about 12% in Vivendi.
Specifically, Global Alconaba, the signing of former Globomedia, Andrés Varela Entrecanal, has 7%, and Adolfo Utor, president of Balearia, 5.4%. While the Polanco family holds 7.6%.
The operation of convertible bonds is to execute in advance one of the clauses of the two broadcasts that the company made in February 2023 and April 2024, for 130 and 100 million euros, respectively. This exchange would be a capital expansion For more than 50%, between both placations.
With the norm in hand, the fixed income titles They expire at five years of their launch. However, in the brochure of both emissions it is explained that these bonds can be exchanged for shares if the holders of at least 5% of these titles request it in an extraordinary way, as is the specific case that the group lives at the moment.
Meanwhile, the same sources of the Poor New digital television Government driven, the end of the media group itself would have meant.
Debt risk
This is recognized to ABC Fuentes of the Company itself, which explain that getting rid of the publisher was and is within the plans of the so -called ‘rebel group’ related to the government, led by its former director of content, José Miguel Contrerasbut what was opposed and opposed by President Hurry himself, Joseph Oughourlian. The sources explain that «Malvender Santillana is a lousy idea that would ruin the companythe title would go to zero immediately after performing the operation and the debt would shoot even more so.
In addition, the intention of taking the DTT license promoted by the government was the final trigger for Oughourlian to maneuver among his directors to achieve the resignation of Carlos Núñez, former councilor and former president of Hurry mediumthe group’s media subsidiary, and put the exit of Contreras on a tray.
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