Religious News - British MPs own stock tied to Zimbabwe

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British MPs own stock tied to Zimbabwe

At least seven members of the British Parliament have large stock holdings in companies doing business in Zimbabwe, a newspaper reports.

Six of the group are Conservatives, three of them leading members, and the seventh is a Liberal Democrat, The Independent on Sunday said. One, Dominic Grieve, is the shadow home secretary.

The companies involved include Anglo American, which plans to invest $400 million in a platinum mine in Zimbabwe; Rio Tinto; the banking company Barclays; and two oil companies, BP and Shell.

Conservative Party leader David Cameron has called on both individuals and companies doing business with Zimbabwe to determine whether they are helping prop up President Robert Mugabe. Mugabe was inaugurated Sunday for another term, after winning a run-off election widely criticized as a sham by world leaders including President George W. Bush.

The seven members of Parliament have broken no rules or committed illegal acts, The Independent said.

Grieve, who owns stock in at least four companies involved in Zimbabwe, said he has declared his holdings as required.

"The Conservative Party has made it clear that companies operating in Zimbabwe must adhere to the highest ethical standards, and I fully endorse that view," he said.

Copyright 2008 by United Press International.

This news arrived on: 06/30/2008

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