Woodford to attend BOD meeting this week

Started Nov 22, 2011 | Discussions thread
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MichaelKJ
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Woodford to attend BOD meeting this week
Nov 22, 2011

Another interesting week for Olympus.

TOKYO/LONDON (Reuters) - The sacked chief executive of Japan's disgraced Olympus Corp (7733.T: Quote) says he has accepted an invitation to attend its board meeting this week, which could be a hopeful sign for investors who want him to return and lead a clean-up of the firm.

Goldman Sachs (GS.N: Quote) is now the second-biggest shareholder in Olympus, a public filing showed on Tuesday. The Wall Street bank has a 6.67 percent stake in the firm for clients' trading purposes, second in size to Mitsubishi UFJ Financial Group (8306.T: Quote), which has 7.61 percent.

Speculators who believe Olympus' core medical equipment business still has value have been betting that executives responsible for the scandal will bear the brunt of any punishment and that the company can escape with a fine.

http://ca.reuters.com/article/businessNews/idCATRE7AK10X20111122

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