The owner of Carnaby Street and Chinatown in London faces the threat of a court battle with its biggest shareholder, who has declared war on the board over a fundraising.
Samuel Tak Lee, a secretive Hong Kong billionaire who owns 23% of Shaftesbury, has written to the FTSE 250 property developer demanding information ahead of a possible legal action.
He is also understood to have written to some of Shaftesbury’s advisers. Lee, who owns the neighbouring Langham Estate north of Oxford Street, was angered by a placing in December last year, when Shaftesbury raised £265m from shareholders in a day.
