(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc., once the biggest holder of Wells Fargo & Co. common stock, slashed its investment by more than 40% as the San Francisco-based lender copes with the aftermath of consumer-abuse scandals.Berkshire sold more than 100 million shares, trimming its stake in Wells Fargo common stock to about 3.3%, according to a regulatory filing Friday. A Wells Fargo spokesperson declined to comment.Berkshire, a long-time investor in the lender, has been trimming its bet in recent months, down to a stake valued at $3.4 billion based on Friday’s closing price. Wells Fargo is grappling with lingering …read more
Source:: Yahoo Finance
