Complaint by MCH Group rejected

Christiane Appel - Wednesday, October 28, 2020    


The possible involvement of James Murdoch in the MCH Group, Basel, continues to complicate matters. The Swiss Financial Market Supervisory Authority (Finma) has rejected the complaint lodged by MCH Group against the decision of the Swiss Takeover Board (TOB) of August 20, 2020. By taking that step, Finma supports the injunction of the TOB that the opting-up clause for Murdoch's Lupa Systems agreed by the extraordinary general meeting of August 3, 2020 is invalid from a takeover law perspective because abstentions must be counted as "No" votes. According to this decision, Lupa Systems would have to make a mandatory public offer if it were to purchase a holding of more than 33.3 percent of the MCH Group. The board of directors continues to work together with all stakeholders to find a solution in order to be able to implement the necessary capital measures as soon as possible. (ch)     mch-group.com/en/

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