Deals
Buffett Increases Wells Fargo Stake, Buys Stocks ‘On Sale’
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Warren Buffett’s Berkshire Hathaway Inc. increased its stake in Wells Fargo & Co., building equity holdings amid a markets decline that the billionaire investor said provided an opportunity for buying stocks “on sale.”
Buffett’s firm added 9.7 million shares of the biggest U.S. home lender in the three months ended June 30, boosting the holding by 2.8 percent, Omaha, Nebraska-based Berkshire said yesterday in a filing that listed its U.S. stockholdings. Berkshire accelerated purchases on Aug. 8 as the Standard & Poor’s 500 Index plunged 6.7 percent, its steepest decline since December 2008.