Media Square heads for tussle with investor

MEDIA Square, the communications firm led by entrepreneur Roger Parry, looks set for a tussle with its largest shareholder Peter Lynch over concerns the former stockbroker might try to wrest control of the company.<br /><br />In a circular sent ahead of its annual meeting later this month, Media Square has urged shareholders to vote down an attempt by Lynch to gain a seat on the board, citing concerns over how he acquired his 21.5 per cent stake and dubbing him &ldquo;hostile and aggressive&rdquo;.<br /><br />&ldquo;The directors believe that if Mr Lynch and any associates wish to control MSQ, they should make a takeover offer in the normal manner,&rdquo; the board added.<br /><br />It also referred to a Financial Services Authority investigation into Lynch&rsquo;s purchase of contracts for difference in Media Square via his&nbsp; firm, Aim-listed Prime Active Capital, and an inquiry by the Takeover Panel into links between Lynch and Tony Gill, another Media Square shareholder.