When it emerged that the Libyan Investment Authority holds about 3% of shares in Pearson Group, owner of the UK Financial Times, Pearson’s CEO responded with the dirty-linen quote of the year: “you can’t choose your shareholders.”
Tell that to the citizens of Zambia whose national telecommunications company is 100% owned by the LIA. I wonder if that particular shareholding was chosen by multilateral banks obsessed with foreign investment as a formula for development.
Meanwhile it’s no wonder the African Union is active in pursuit of a peace deal with Gaddafi.
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this post was first published by OneWorld UK