Catalano lashes Sandon Capital over 'appalling' Southern Cross moves
The media entrepreneur described Sandon's agitation towards the radio operator as "an insult to all shareholders who have obtained their shares legally".
Real estate and media entrepreneur Antony Catalano has hit out at activist investment firm Sandon Capital, describing its campaign against Southern Cross Austereo as "appalling" and insulting to other shareholders.
Catalano, together with Melbourne billionaire Alex Waislitz, controls a 14.42% stake in Southern Cross via their investment vehicle 19 Cashews. The duo, which own regional newspaper business Australian Community Media, attempted to acquire Southern Cross last year but were rebuffed.
“I think Sandon’s panel application is an insult to all shareholders who have obtained their shares legally,” Catalano told Capital Brief.
“It’s appalling that any reputable investment fund would seek to support the purchase of shares that the panel found to have been obtained in unacceptable circumstances.”
