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Date: May 30 2012
James Packer has called for an extraordinary general meeting of rival Echo Entertainment shareholders in a bid to oust chairman John Story.
The billionaire Crown chairman, in a letter sent to Echo shareholders, has attacked the company's financial performance and its chairman's handling of the recent The Star casino scandal, according to media reports.
In the letter, he calls for Mr Story's removal and for former Victorian premier Jeff Kennett to be appointed to Echo's board, the reports say.
Crown would need to secure the support of another 40.1 per cent of Echo voting rights to succeed, as it owns 10 per cent of Echo shares.
The spat between the two chairmen erupted after Echo rejected Crown's request it appoint a director to the board, the Australian Financial Review says.
It intensified during the fallout from Echo's sacking of The Star casino's managing director Sid Vaikunta amid two sexual harassment claims.
The move is seen as part of a takeover attempt and bid by Mr Packer to build a casino in Sydney, a News Ltd paper reported.
AAP
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