Warren Buffett’s Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday. Shares of BofA were up 3% after the report came out. Berkshire, which has a 9.96% stake in BofA, filed an application with the Fed in recent weeks making a variety of assurances that it will passively invest in the bank, the report said https://bloom.bg/2ISBQEW citing a copy of the application provided by the regulator. …read more
Source:: Yahoo Finance
