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Thursday, October 18, 2007 6:54:27 PM
OMAHA, Neb. (AP) -- Billionaire Warren Buffett said Thursday his company had sold all shares of Chinese oil conglomerate PetroChina Co., a corporation that activist investors have urged him to divest in because of its ties to Sudan.
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But the chairman and chief executive of Berkshire Hathaway Inc. told FOX Business Network the decision to sell was based on the shares' valuation, and had nothing to do with the Sudan connection.
"If it went down a lot I'd buy it back," he said. Berkshire made about $3.5 billion on a $500 million investment, Buffett said, but "we still sold it too soon. I left a lot of money on the table."
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