July 18, 2019 / 5:52 AM / 4 months ago

Activist fund Amber Capital demands strategy review at French utility Suez

PARIS, July 18 (Reuters) - Shareholder activist firm Amber Capital on Thursday called for a strategy review at Suez , arguing that the French utility had underperformed rivals and could create more value for its shareholders.

Amber Capital said it had sent a letter on July 18 to Suez’s management, outlining its demands, as activist funds such as Elliott and others target companies across Europe which they feel are underperforming.

London-based Amber Capital, which holds 1.9% of the French utility’s share capital, called for Suez to reduce the size of its board of directors and to review its portfolio of assets. (Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips)

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