Billionaire investor Warren Buffett increased his stake in Tesco Plc (TSCO) to 5.08 percent after a slump in the share price of the U.K.’s largest supermarket chain.
Buffett’s Berkshire Hathaway Inc. (BRK/A) raised the holding from 3.21 percent and held about 407.6 million shares as of Jan. 13, Cheshunt, England-based Tesco said today in a statement.
Tesco shares declined 16 percent on Jan. 12, the most since at least 1988, after the company reported Christmas sales that missed estimates and reined back profit expectations. Buffett told CNBC in November he’d buy more shares if the price fell.
