UK: Buffett ups stake in Tesco - report
Buffett has increase his stake in Tesco to over 3%
US billionaire investor Warren Buffett has increased his stake in UK retail giant Tesco, according to reports.
Buffett, head of investment fund Berkshire Hathaway, has increased his stake to just over 3%, Reuters wrote this morning (24 June).
It is understood the firm has bought around 2m shares in the retailer to take its stake to 242m shares, or 3.02% of the total.
Neither Berkshire Hathaway or Tesco would confirm the move when contacted by just-food today.
The start of the week saw a flurry of a retail news, with confirmation of A&P's move into Chapter 11 protection in the US and Wal-Mart Stores' decision to close its office in Russia. Later in the week...
The UK's Association of Convenience Stores has reacted negatively to news that One Stop, a convenience chain run by UK retail giant Tesco, is to acquire 77 stores from English retailer Mills....
Metro Group has denied reports that it is in negotiations with retail giant Tesco to sell its Real hypermarket chain in Romania....
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