Church of England threatens to pull News Corp investment
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The Church of England has threatened to pull its $6 million investment in Rupert Murdoch's News Corp over the phone hacking scandal at its News of the World paper. The Church's investment represents a small amount of News Corp's value, a company with a market cap of $32 billion.
The Church said in a statement its Ethical Investment Advisory Group (EIAG) wrote to News Corp on Friday, saying the behaviour of the paper, accused of illegally accessing countless voicemail messages and making payments to police, had been utterly "reprehensible and unethical". ( Reuters)
