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AP National Business

Warren Buffett’s company keeps selling carmaker BYD’s stock

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Published 9:24 AM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Warren Buffett’s company continues selling off its stake in Chinese electric car manufacturer BYD and now holds less than 10% of that company’s stock. Berkshire Hathaway revealed the latest sale of 1.96 million BYD shares worth about $58.9 million Monday in a filing with the Hong Kong stock exchange. Berkshire’s stake is now less than half the size of the 225 million shares it held before it started selling last August, but its remaining holdings are still worth about $3.3 billion. Berkshire originally paid $225 million for its BYD shares in 2008. Buffett has yet to explain why he is selling stock in the company he praised so highly in the past, and he wasn’t asked about it at this weekend’s annual meeting.

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