Consumer-goods giant Unilever PLC/NV (UN,UL) said Monday its three major shareholders ING NV (ING), ASR and Aegon NV (AEG) will vote against its proposal to cancel the 4% Unilever N.V. cumulative preference shares and buy back the 6% and 7% Unilever N.V. cumulative preference shares.

Unilever said the position of the three majority shareholders who hold the preference shares does not change the proposal to be voted on at Tuesday's annual shareholder meeting.

Unilever is cancelling and buying back the shares to reduce disproportionate voting rights in relation to the shares' economic value.

"The three shareholders represent 30% of the voting rights in Unilever while their economic interest is 0.5%," Unilever's spokesman Flip Dotsch said.

ING declined to comment and ASR and Aegon were not immediately available for comment.

By Anna Marij van der Meulen; Dow Jones Newswires, +31-20-5715 216; annamarij.vandermeulen@dowjones.com
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