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Report: Ex-HSBC deputy chairman tries mediating with LSE activist investor

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Report: Ex-HSBC deputy chairman tries mediating with LSE activist investor

In a one-off attempt at mediation, former HSBC Holdings Plc Deputy Chairman Simon Robertson met Christopher Hohn, the activist fund manager demanding the reinstatement of Xavier Rolet as CEO of London Stock Exchange Group Plc, to work out a compromise, Sky News reported, citing unnamed sources.

Robertson did so at the request of LSE Chairman Donald Brydon and other nonexecutive directors, according to the report. The talks did not lead to a compromise, indicating that an extraordinary general meeting of LSE shareholders is inevitable.

Hohn is head of The Children's Investment Fund Management and has demanded the extraordinary general meeting to ask shareholders to reinstate Rolet, who announced his resignation in October, and dismiss Brydon as chairman. LSE Group is due to publish a circular for the meeting by Nov. 30, in which it must explain the reasoning behind its announcement of Rolet's departure, the report noted.