Buffett (pic) began investing in Wells Fargo in 1989, but has been reducing Berkshire's stake as the bank struggles to recover from a series of scandals over its treatment of customers, including the opening of accounts without their knowledge
NEW YORK: Warren Buffett's Berkshire Hathaway Inc said on Friday it had cut its Wells Fargo & Co stake to 3.3%, further reducing what had once been a US$32 billion investment in the bank.
Berkshire said in a regulatory filing https://bit.ly/2Z9Kxml, it owned about 137.6 million shares, worth $3.4 billion, of the fourth-largest U.S. bank by assets, down about 100 million from the end of June.
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