Berkshire Hathaway Sells $2 Trillion Stake in US Bank BofA

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'Investment master' Warren Buffett-led Berkshire Hathaway (hereinafter Berkshire) has sold shares worth 2 trillion won in Bank of America (BofA), a major U.S. bank.

According to Bloomberg and others on the 20th (local time), Berkshire announced in a disclosure the day before that it had recently sold approximately 33.9 million shares of BofA, worth $1.48 billion (about 2.0594 trillion won), over several transactions.

However, Berkshire still holds about 998 million shares of BofA, valued at $42 billion (about 58.4 trillion won). Berkshire is one of the largest shareholders of BofA and also invests in other bank stocks such as Wells Fargo and JPMorgan Chase.

In 2011, when market concerns about BofA's soundness arose, Berkshire invested $5 billion (about 6.9575 trillion won), contributing to BofA's management stability and stock price increase, and subsequently increased its stake.

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