News, Buffett Tells FOX Business He's Sold PetroChina Stake.
Investor Warren Buffett told FOX Business Network Thursday that his Berkshire Hathaway (BRK.A) has sold its entire stake in Chinese energy company PetroChina (PTR: 232.98, -17.74, -7.07%), after owning more than 10% of the public shares.
Buffett told FOX Business anchor Liz Claman he sold out "100 percent" because of valuation, though he admitted he "sold a little too soon," since the shares rose after he began selling. While some critics had suggested Buffett shouldn't invest in PetroChina because of controversy over the company's role in the Darfur, Buffett said that had nothing to do with his thinking.
Buffett Tells FOX Business He's Sold PetroChina Stake (broken link)
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