US body adds to Vodafone pressure

Glass Lewis, a leading US shareholder advisory group, is urging US investors in Vodafone to support three of the four proposals submitted by ECS, the activist investor group led by John Mayo, former Marconi deputy chief executive, at this month’s annual meeting, the FT reports. Mr Mayo’s group has lodged four proposals for Vodafone’s July 24 annual meeting criticising company strategy and remuneration policy. Another large US proxy-advisory firm, Institutional Shareholder Services, has recommended voting against all the ECS proposals, reports the Wall Street Journal.

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