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Warren Buffett's Berkshire Hathaway now Bank of America's top shareholder

Berkshire is now the largest shareholder in the second- and third-largest US banks

Reuters 

Warren Buffett's Berkshire Hathaway Inc has become Bank of America Corp's largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an investment it made six years ago. Berkshire is now the largest shareholder in the second- and third-largest U.S. banks, with stakes of roughly 6.6 percent in Bank of America and 10 percent in Wells Fargo & Co, according to Reuters data. It also has an interest in JPMorgan Chase & Co, the largest U.S. bank, where Todd Combs, one of Buffett's deputy portfolio managers, is a ...

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First Published: Wed, August 30 2017. 08:46 IST
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