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Scotiabank plans to sell its 37-per-cent stake in CI Financial.
Scotiabank plans to sell its 37-per-cent stake in CI Financial.
(MARK BLINCH/REUTERS)

Scotiabank supports CI’s poison pill ‘as of now’

Bank of Nova Scotia intends to support CI Financial Corp.’s poison pill when the matter is voted on next month, but left open a small window to change its mind.

The shareholder rights plan, as it is formally known, prevents Scotiabank from selling more than 20 per cent of CI to any one party. Earlier this week the bank announced its intention to unload its position, which amounts to 37 per cent of CI.