In response to a letter from shareholder earlier this week, Sonus Networks Inc. said Friday its board has "significant concerns" whether Legatum Capital understands its business _ but added it remains willing to meet in person.
Legatum owns about 25 percent of the networking hardware and software maker's shares. It said on Wednesday it will withhold its votes for all nominees up for election to Sonus' board at the company's annual meeting on Friday because it doesn't believe the directors have taken "necessary action to change the way the company is managed or to deliver value to shareholders."
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