Billionaire announces 11% holding and argues Australia’s biggest emitter should be kept intact to accelerate decarbonisation
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AGL Energy has vowed to pursue its strategy to split Australia’s biggest electricity generator, advising stockholders to ignore a raid on the share registry by billionaire Mike Cannon-Brookes aimed at derailing the plan.
Cannon-Brookes late on Monday announced his family company Grok Ventures had secured 11.28% of AGL’s stock, making him the company’s biggest shareholder. He argues the company should be keep as one, and its exit from coal-fired power accelerated as a “globally responsible” move.
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