May 15, 2018 / 8:23 PM / 8 days ago

ISS recommends not to back call for special auditor at Uniper

FRANKFURT/DUESSELDORF, May 15 (Reuters) - Shareholder advisory and proxy voting firm ISS is recommending that investors in Uniper do not back a proposal to appoint a special auditor at the group’s annual general meeting, it said in a note to clients.

The proposal, filed by Cornwall Luxembourg S.a.r.l., a fund backed by activist investor Elliott, is aimed at investigating whether Uniper’s management worked against the planned sale of a 46.65 percent stake held by E.ON to Finnish peer Fortum. (Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Douglas Busvine)

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