Renowned US billionaire Warren Buffett announced that his Berkshire Hathaway investment firm has been quietly buying up shares in technology giant IBM to the tune of US$10.7-billion since March this year.
Speaking to television network CNBC, Buffet said that his company’s investment in IBM amounts to about 64-million shares, or a 5.5% stake.
If accurate, the investment would see Berkshire Hathaway become IBM’s second biggest shareholder, behind investment advisory group State Street.
The 81-year-old Buffett, sometimes called the “Sage of Omaha” for his investing skills, said that his company had paid an average price of US$170 a share, some 10% lower than the previous week’s closing price of US$187.38.
To read the full, original article click on this link: Warren Buffett’s Bekshire Hathaway buys five percent stake in IBM | memeburn
