[Date Prev][Date Next][Thread Prev][Thread Next][Date Index
][Thread Index
]
Pepsi stays in Burma.
PEPSI STAYS IN BURMA
--------------------
Washington: Critics of Burma's military regime suffered a setback
yesterday when American PepsiCo shareholders soundly defeated a resolution
urging the company to end licence agreements in Burma.
But they welcomed Pepsi's decision last week to sell its 40 per
cent stake in a Burmese bottling plant, partly in response to civic
pressure to server economic links there, and vowed to continue their
campaign.
A shareholder resolution aimed at forcing Pepsi to end its
franchise and licensing agreements in Burma drew only 4.2 per cent of
votes cast yesterday at Pepsi's annual meeting in Purchase, New York.
Such a small percentage means the resolution cannot be introduced
again, according to Father Joseph La Mar, a Catholic priest whose order
has led shareholder pressure on PepsiCo to pull out of Burma.
No comment from Pepsi was available, but the company has said in
the past it believes activities in Burma have raised standards of lving
and shown the benefits of democracy.
[AFP,03.05.96]
------------------------------------------------------------------------------