November 29, 2017 / 3:55 PM / a year ago

TCI says to respond to LSE board tomorrow over meeting plans

LONDON (Reuters) - Hedge fund TCI has written to the board of the London Stock Exchange to say it intends to respond more fully on Thursday, after the exchange asked the fund to withdraw a call for an extraordinary general meeting.

In a letter to the board of the LSE seen by Reuters, TCI founder Chris Hohn said: “Thank you for your letter of today. We intend to respond to your letter tomorrow.”

The request to TCI was announced to the market earlier on Wednesday as the LSE said Chief Executive Xavier Rolet was to step down immediately. This follows the two firms’ public tussle over the planned departure of Rolet by the end of 2018.

TCI had accused LSE Chairman Donald Brydon of pushing Rolet out and called the shareholder meeting to try to reverse the decision and oust Brydon.

The LSE board said earlier on Wednesday that it had asked TCI to say by 1300 GMT if it would withdraw its meeting request to “avoid further disruption and potential damage to the company”.

Reporting by Simon Jessop; editing by Carolyn Cohn

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