Buffett ups stake in Tesco to over 5%

Warren Buffett's Berkshire Hathaway has increased its stake in Tesco to 5.1% after buying on weakness last week.

The investor's position in the UK retailer has been increased from 3.21% to 5.08%, Tesco said today. Buffett has held a position in Tesco since 2007 but began building his stake in earnest last year, reportedly. He told CNBC in November he would buy more were the company's share price, then at 394p, to fall in future. Tesco shares fell 16% last Thursday after the retailer warned on profits and the outlook for the business, with its share price dropping to 325p. By the next day, 13 January, Buffett had increased his stake above 5% for the first time, according to a regulatory filing...