Investment advisers oppose News shift

News Corporation's plan to move its main stock exchange listing to the US faces concerted opposition from key advisers to institutional investors. The Australian Council of Super Investors will recommend that its 32 members, which manage $85 billion, vote against the move. Another governance consultant Corporate Governance International, has also been negotiating with News for the past three months. A third adviser, Global Institutional Governance Network, which includes international funds such as Calpers believe a US-based News should adhere to parts of Australia's corporations law, which they believe are superior to that of the US.

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