Thursday, October 11, 2007

Warren Buffett cuts stake further in Hong Kong-listed PetroChina to 5.44 pct

HONG KONG (XFN-ASIA) - Billionaire global investor Warren Buffett further sold another 220.5 mln shares in PetroChina on Sept 25,reducing his personal stake in the Hong Kong-listed Chinese oil company to 5.44 pct from 6.49 pct, according to a stock exchange disclosure.

Buffett, the chief executive officer of Berkshire Hathaway Inc (nyse: BRKA - news - people ), sold the shares at an average price of 12.8 hkd per share for a total of 2.82 bln hkd.

Buffet had sold 66.61 mln shares in PetroChina (nyse: PTR - news - people ) on Sept 21.

In today's trade, PetroChina was up 0.18 hkd or 1.28 pct at 14.28.