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purejuiceThe Church of England has a £3.76 million investment in Murdoch's News Corp and the CoE fund manager is apparently advising against getting rid of the investment.
Andreas Whittam Smith (pictured), First Church Estates Commissioner, said it was possible that Rupert Murdoch could sell his British newspapers in the future.
'I feel that a premature sale of News Corp and BSkyB might just be simply very bad timing,' he told members of the Church of England's national assembly meeting in York.
'I don't argue with anything that anybody is saying about them but I think it must be possible that News Corp will get rid of its entire British holdings, of newspapers that is, and that if it is to do so, first of all the problem would have vanished if you like from the point of view of the parent company and for us as investors, and the shares will certainly bounce up again, and so it is a ticklish area.'
Mr Whittam Smith's remarks came after the Church of England's Ethical Investment Advisory Group (EIAG) warned it could pull £3.76million in shares out of News Corp if it fails to hold senior executives to account over the phone hacking scandal.
Read more: http://www.dailymail.co.uk/news/article-2013690/Rupert-Murdoch-meltdown-BSkyB-deal-shelved-shareholders-sue.html#ixzz1Rv1yLmC6
http://www.ft.com/intl/cms/s/0/b52ed046-522c-11df-8b09-00144feab49a.html#axzz1Rv5icdcr
Andreas Whittam Smith (pictured), First Church Estates Commissioner, said it was possible that Rupert Murdoch could sell his British newspapers in the future.
'I feel that a premature sale of News Corp and BSkyB might just be simply very bad timing,' he told members of the Church of England's national assembly meeting in York.
'I don't argue with anything that anybody is saying about them but I think it must be possible that News Corp will get rid of its entire British holdings, of newspapers that is, and that if it is to do so, first of all the problem would have vanished if you like from the point of view of the parent company and for us as investors, and the shares will certainly bounce up again, and so it is a ticklish area.'
Mr Whittam Smith's remarks came after the Church of England's Ethical Investment Advisory Group (EIAG) warned it could pull £3.76million in shares out of News Corp if it fails to hold senior executives to account over the phone hacking scandal.
Read more: http://www.dailymail.co.uk/news/article-2013690/Rupert-Murdoch-meltdown-BSkyB-deal-shelved-shareholders-sue.html#ixzz1Rv1yLmC6
http://www.ft.com/intl/cms/s/0/b52ed046-522c-11df-8b09-00144feab49a.html#axzz1Rv5icdcr
