Facebook is blacklisted by major European bank, Nordea

Facebook is blacklisted by major European bank, Nordea

Bloomberg reports:

The biggest bank in the Nordic region will no longer let its sustainable investment unit buy more stock in Facebook Inc.

Nordea Bank AB has decided to “quarantine” Facebook investments in the asset management unit, “given the high-level revelations and the turmoil surrounding the company with a strong public backlash,” head of sustainable finance, Sasja Beslik, wrote on Twitter.

“One-offs, fine. Usually that’s something that a company can manage in a responsible way,” Beslik said by phone. “What we’re worried about are systemic issues” and how they “are managed” once they emerge, he said. [Continue reading…]

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