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Church of England loses faith in shares of Murdoch’s News Corp
http://blogs.reuters.com/faithworld/2012/08/07/church-of-england-loses-faith-in-shares-of-murdochs-news-corp/By Reuters Staff
August 7, 2012
The Church of England has sold all shares in News Corporation held in its investment portfolios on ethical grounds, after a phone hacking scandal at the media empire’s UK operations.
The Church, which has three national investing bodies, sold the shares worth 1.9 million pounds ($2.97 million) after its Ethical Investment Advisory Group (EIAG) was not satisfied with the level of corporate governance reform at Rupert Murdoch’s media conglomerate following a year of dialogue.
“Last year’s phone hacking allegations raised some serious concerns amongst the Church’s investing bodies about our holding in News Corporation,” Andrew Brown, Secretary of the Church Commissioners said in a statement on Tuesday.
