Well known investor, the billionaire Warren Buffet has cut his stake in faltering supermarket TESCO (TSCO.L) to under 3%. Tesco was obliged to report the change in Holdings this morning via an RNS. Buffets Berkshire Hathaway Inc at one point owned over 5% of Tesco but since 2012 this figure has been slowly dwindling.
Buffet stated recently on CNBC that he was having “second thoughts” about his Tesco holding and admited he had made a “huge Mistake” after the grocer reported accounting problems, overstating its half year profit by £250Million.
Tesco share price is trading slightly lower today at 173.9p
Well known investor, the billionaire Warren Buffet has cut his stake in faltering supermarket TESCO (TSCO.L) to under 3%. Tesco was obliged to report the change in Holdings this morning via an RNS. Buffets Berkshire Hathaway Inc at one point owned over 5% of Tesco but since 2012 this figure has been slowly dwindling.
Buffet stated recently on CNBC that he was having “second thoughts” about his Tesco holding and admited he had made a “huge Mistake” after the grocer reported accounting problems, overstating its half year profit by £250Million.
Tesco share price is trading slightly lower today at 173.9p
Related Posts: