A campaign of initmidation by animal welfare activists has caused leading City institutions to ditch their stakes i...
A campaign of initmidation by animal welfare activists has caused leading City institutions to ditch their stakes in a controversial animal testing company, reports The Times (p4).
Protests have already led Camden LBC to review its ownership of 1.5 million shares in the company, Huntingdon Life Sciences Group. And Sussex CC has promised to sell its stake (see LGCnet 14/2/00).
Fund manager Phillips and Drew sold its 11% stake in the firm after campaigners issued death threats and published the names and addresses of the directors of P&D's holding company.
The activists also targeted NatWest Bank, the only British bank in a consortium of three that has lent about£24m to Huntingdon.
One City source said that he knew of two other institutions besides P&D that had received bomb threats. He said: 'There is a big stigma attached to the company. The stock trades at a massive discount because no one wants to be associated with buying it.'