CLUB MED ASKS SHAREHOLDER APPROVAL FOR CAPITAL INCREASE
Club Mediterranee <CMI.PA> said it planned
a 150 mln franc increase in its authorised capital to 388.11
mln francs from the present 238.11 mln.
    Shareholders approval would be sought at an extraordinary
meeting on April 16.
    The meeting would also be asked to approve a merger of two
Italian subsidiaries, <CM Italia Spa> and <Societa
Amministrazioni Turistiche Srl>.
    This would realise a capital gain on CM Italia's assets,the
amount of which would be determined by exchange rates ruling on
the effective date of the merger, a company announcement said.
 REUTER
