Verizon climbs 4% after Warren Buffett reveals nearly $9 billion investment
Ben WinckFeb 17, 2021, 20:54 IST
James Lawler Duggan/Reuters
Warren Buffett s
The holding company invested $8.6 billion in
Verizon stock through the quarter that ended December 31.
Berkshire also opened positions in Chevron and Marsh & McLennan through the end of 2020.
Verizon gained as much as 3.8% on Wednesday after Warren Buffett s Berkshire Hathaway unveiled a multibillion-dollar stake in the telecom giant.
The conglomerate revealed it added 147 million of Verizon s shares to its holdings in the quarter that ended December 31, according to a
13-F filing published Tuesday. The purchase amounted to roughly $8.6 billion in stock.
Buffett also took a $4.1 billion stake in Chevron and established a $500 million investment in professional-services firm Marsh & McLennan through the December quarter.
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