In early January, Norway’s sovereign wealth fund decided to divest its entire stake — approximately $11.37 million — in the Chinese company ZTE because the company is facing corruption allegations in 18 countries, 11 of which have launched formal investigations.

The move by the world’s largest sovereign wealth fund followed an assessment by the Council of Ethics, the body that advises oil-rich Norway’s central bank on investments. “The Council has concluded that the company has failed to demonstrate satisfactorily that internal anticorruption procedures are being effectively implemented,” a statement said. “There is an unacceptable risk that the company may once again become involved in gross corruption.” Read more…