Fidelity Investments plans to vote against a $18.7 billion buyout of Clear Channel Communications by two private equity firms, the Associated Press reports.

With holdings of about 11% of Clear Channel’s shares, Fidelity, the company’s largest shareholder, is said to believe the price is a significant discount to the firm’s true value.

The acquisition is being planned by a group of investors led by Thomas H. Lee Partners and Bain Capital.

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