Buffett: Buying Tesco was ‘a huge mistake'

Tesco's third largest shareholder Warren Buffett has described his investment in the supermarket as a "huge mistake".

Speaking to CNBC today, the owner of Berkshire Hathaway offered little support for the beleaguered supermarket despite holding a stake in the business. "I made a mistake on Tesco. That was a huge mistake by me," Buffett (pictured) told the broadcaster. Berkshire Hathaway has owned Tesco since 2006, but bought in heavily at the start of 2012, before raising its stake further that January after the company's first profit warning in 20 years. Tesco shares have almost halved since that warning over two years ago, and are currently down 46% year-to-date following further earnings disapp...