Cintra investors against Ferrovial merger team up

MADRID, June 30 (Reuters) - Shareholders in Spain's Cintra (CCIT.MC) said on Tuesday they will vote against a merger with parent Ferrovial (FER.MC) unless the share exchange is more than one Ferrovial share for every 1.5 of the toll road group's shares.

The investors said they plan to look for a candidate they can propose as an independent member to join Cintra's board and once they find that person will call for a shareholders meeting to ratify the appointment.

Britain's Universities Superannuation Scheme, Australia's CP2 Ltd., Magellan Asset Management, Railpen Investments and Gartmore are among these investors which control about 4 percent of Cintra.

(Reporting by Andres Gonzalez; writing by Judy MacInnes)