Buffett’s Berkshire Discloses $528.7 Million Verizon Bet
This article is for subscribers only.
Warren Buffett’s Berkshire Hathaway Inc. disclosed a holding in Verizon Communications Inc. in a wager that the telecommunications company will benefit after buying out its partner in the largest U.S. wireless business. Verizon posted the biggest increase in the Dow Jones Industrial Average.
Berkshire held 11 million Verizon shares as of March 31, Buffett’s company said yesterday in a regulatory filing. The investment is valued at about $530 million.