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Rating:Fidelity Says PetroChina Divestiture Not Prompted by Protests Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, May 17, 2007

Fidelity Says PetroChina Divestiture Not Prompted by Protests

by: Erin Kello

Fidelity is denying that it divested from PetroChina in response to pressure from activist groups. Fidelity spokesperson Anne Crowley told The Boston Globe that the managers of individual Fidelity funds made their own individual investment choices with no pressure from Fidelity. According to an SEC filing this week, Fidelity reduced its PetroChina holdings from about 4.5 million shares earlier this year to 420,916 at the end of March, before the recent news blitz of the group "Divest for Darfur." Activists, however, remain optimistic that the choices were made in response to their demands. 

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