Kudelski reiterates OpenTV commitment
And so it continues. Following Tuesday’s statement from Open TV shareholder Discovery Group asking Kudelski to sell out of the interactive TV group, Kudelski has said it will do no such thing.
In a statement, Kudelski Group said: “The Kudelski Group confirms that it is not interested in selling its shares of OpenTV. As mentioned in its latest Press Release of June 4, 2009, the Kudelski Group reiterates its commitment to remain OpenTV’s controlling shareholder and to protect its investment by undertaking all necessary measures to ensure its long-term success.”
Warring shareholders are rarely good for a company’s health, particularly not if they war so publicly. Kudelski’s determination that Open TV take a different strategic direction from that advocated by Discovery Group (Kudelski wants to pursue acquisitions while Discovery seems against that course) is likely to mean rocky times ahead.