Blog: Buffett ups stake in Tesco
Dean Best | 19 January 2012
A week after Tesco shocked the market and sent its shares tumbling with a profit warning, it has emerged that the US billionaire investor Warren Buffett has quietly increased his stake in the retailer.
In a statement to the London Stock Exchange today (19 January), Tesco said Buffett's investment vehicle Berkshire Hathaway had acquired more of the UK retailer's shares. Berkshire's stake is now 5.08%, up from 3.21%, Tesco said.
The date of the share purchase was 13 January, the day after Tesco warned its profits would not grow as fast as expected in its current financial year and in the next 12 months amid continued problems with its UK business. The retailer's shares fell 16%.
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Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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