PARIS May 22 French cable maker Nexans
agreed on Thursday to call off the agreement that
locks the holding of its key shareholder Invexans at between 25
and 28 percent as requested by the Chilean copper group.
"Invexans confirms its support of Nexans while maintaining a
balanced board representation," Nexans CEO Frederic Vincent said
in a statement.
Invexans will not ask for a board representation in excess
of three non-independent members in a board of fourteen members,
the statement said.
The Chilean group earlier said that it was not seeking to
take control of the French company and had no plans to cut its
stake or increase it above 30 percent.
(Reporting by Maya Nikolaeva; editing by Michel Rose)