Buffett cuts Tesco stake

By Dow Jones Newswires with a staff reporter

Warren Buffett‘s Berkshire Hathaway Inc on Monday reduced its stake in Tesco PLC to less than 3 per cent, meaning Mr Buffett’s “huge mistake” on the embattled UK supermarket chain just got smaller. Berkshire held 3. 98 per cent of Tesco, which announced the deal Thursday, as of September 24, according to Tesco’s website, meaning it has since sold shares worth at least $US232 million at Monday’s midmarket price.

Read more here: Business Spectator


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