Norway SWF Drops Grupo Carso From Portfolio

The sovereign wealth fund of Norway has droppedGrupo Carsofrom its portfolio,Bloombergreports. The $540 billion oil fund sold its shares in the Mexican firm-controlled company due to its ownership inCompania Mercantil de Productos de TabacoandPhilip MorrisMexico.

Norway’sGovernment Pension Fund Globalhas excluded almost 50 companies after a decision by the country’s finance ministry in the wake of recommendations from the Ethics Council. The fund owned shares worth $30 million in Grupo Carso at the end of last year.

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