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Rating:Fidelity Sells Most of its PetroChina Stake Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, May 16, 2007

Fidelity Sells Most of its PetroChina Stake

by: Sean Hanna, Editor in Chief

Could the "Fidelity Out of Sudan" movement have worked? Protesters of the violence in Darfur, Sudan have been pushing Fidelity Investments to divest its holdings in PetroChina. Though no tie to the action was stated, Fidelity has cut the stake in the Chinese oil held by its mutual funds by 91 percent, reports the Wall Street Journal based on an SEC filing. Fidelity funds now own 420,916 PetroChina ADRs, down from 4.5 million at the end of 2006. 

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