A group of U.K. fund managers are lobbying against including Snap Inc., the photo app maker, in indexes run by the London Stock Exchange’s FTSE Russell unit because of corporate governance concerns, according to two people with knowledge of the matter.
The group is against the inclusion of shares in the firm because they are non-voting, the people said, asking not to be named as the plans aren’t public. The issue will be discussed at FTSE Russell advisory committee meetings later this month, they said.
