Warren Buffett’s Berkshire Hathaway Inc has trimmed its stake in BYD Co , seven weeks after prompting speculation it might sell its entire multi-billion dollar stake in the largest Chinese electric car company.
Tuesday’s filing is the first confirmation that Berkshire has reduced its BYD investment since the 20.49% stake entered Hong Kong’s Central Clearing and Settlement System on July 11, with Citigroup serving as custodian.Buffett’s company had acquired 225 million BYD shares in 2008, giving it a 7.73% stake, equal to the 20.49% stake in H shares, according to BYD’s annual report.
Berkshire has spent more than $57 billion this year buying other stocks such as oil companies Occidental Petroleum Corp and Chevron Corp.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: