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Sept 4: "Buffett's Berkshire slashes Wells Fargo stake"

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bar1080   Saturday, 09/05/20 05:46:57 AM
Re: Prudent Capitalist post# 1410
Post # of 1432 
Sept 4: "Buffett's Berkshire slashes Wells Fargo stake"

"(Reuters) - Warren Buffett's Berkshire Hathaway Inc <BRKa.N> said on Friday it had cut its Wells Fargo & Co <WFC.N> stake to 3.3%, further reducing what had once been a $32 billion investment in the bank.

Berkshire said in a regulatory filing https://bit.ly/2Z9Kxml, it owned about 137.6 million shares, worth $3.4 billion, of the fourth-largest U.S. bank by assets, down about 100 million from the end of June.

Buffett began investing in Wells Fargo in 1989, but has been reducing Berkshire's stake as the bank struggles to recover from a series of scandals over its treatment of customers, including the opening of accounts without their knowledge."

https://finance.yahoo.com/news/buffetts-berkshire-slashes-wells-fargo-225339538.html



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