Warren Buffett Buys $530 Million Stake in Verizon
Published on: 16th May 2014
Note -- this news article is more than a year old.
Berkshire Hathaway, the investment fund managed by Warren Buffett has disclosed that it has built up a stake in USA based Verizon worth more than half a billion dollars.
Unlike some investors, Buffett is not an activist investor, and usually takes a longer term view on his stakes.
Berkshire Hathaway owned 11 million Verizon shares as of March 31, Buffett's company said in a regulatory filing. The investment is valued at about US$530 million.
However, the news that the "Sage of Omaha" has invested in Verizon will be seen as an indicator that he expects the company's performance to improve in the medium term. Any significant investment by Buffett usually sends a company's share price higher as his investments are a closely watched tracker by the stock market.
Berkshire Hathaway has nearly USD120 billion worth of investments under management for its clients.