Church of England sells £1.9m shares in News Corp

Church fears the company lacks commitment to reforming its corporate governance.

Southwark Cathedral
Southwark Cathedral. Photograph: Getty Images

The Church of England has sold its shares in News Corp over fears the company lacks commitment to reforming its corporate governance in the wake of the phone-hacking scandal.

The CoE said it was divesting its £1.9m shareholding, which equates to just 0.005% of News Corp's total publicly-traded stock, after a year of dialogue between the company and the Church's Ethical Investment Advisory Group (EIAG).

The Church said it had first raised concerns with the board of News Corp after the Milly Dowler phone-hacking allegations emerged in July 2011.

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