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University of Wisconsin Sells Texaco Stock

May 10, 1997|Associated Press

The University of Wisconsin system has divested about $240,000 worth of stock in Texaco, which does business in Myanmar, only months after adopting a "socially responsible" investment policy. The stock was sold last month. Regent President Michael Grebe called it a business decision. Student groups have urged the university to get rid of stocks in companies that do business with Myanmar's dictatorship. But Grebe refused to say whether their demands had anything to do with the decision. Myanmar's government has been accused of human rights abuses. Texaco, based in White Plains, N.Y., is one of several U.S. oil companies doing business there.

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