December 19, 2017 / 2:32 PM / a year ago

Activist fund manager TCI to keep up fight to oust LSE chairman

LONDON, Dec 19 (Reuters) - TCI Fund Management will continue to fight to remove London Stock Exchange Chairman Donald Brydon after receiving a sizeable minority of votes at the shareholder meeting held on Tuesday, a source close to the hedge fund firm told Reuters.

The meeting voted on a resolution brought by TCI’s founder Christopher Hohn to oust Brydon for the way he handled the departure of former CEO Xavier Rolet.

TCI lost the vote, in which 79.07 percent of shareholders sided with Brydon.

However, the source close to the firm had said if more than 20 percent of investors backed the resolution, then it would keep up the fight. (Reporting by Maiya Keidan; Editing by Greg Mahlich)

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