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Warren Buffett in Tesco's shopping spree -UPDATE
Tue, 22 May, 2012
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Warren Buffett in Tesco's shopping spree -UPDATE
Thu, 19 Jan 2012, 13:57:00
Warren Buffett, a major American investor, has filled his trolley with £350m-worth of shares in <b>Tesco</b>'s, the UK's largest supermarket chain. 
 
 The news did not come as much of a suprise as the business mogal owner of investment vehicle <b>Berkshire Hathaway</b> had said towards the end of 2011 that if Tesco's share price fell he would buy up more shares. 
 
 After the £5bn nose-dive in Tesco's shares last week following the firm's worst festive period in 20 years, Buffet has stayed true to his word and stocked up, significantly increasing Berkshire Hathaway's stake from 3.6% to 5.1%. 
 
 Buffet previously purchased 34m Tesco shares at 371p each in September of last year. 
 
 In a post-Christmas statement the company admitted that not only had it been its worst fetive period in decades, but UK sales were falling and hundreds of millions would need to be spent on improving UK stores. 
 
 The announcement sent Tesco shares up 1.75p to 322.75p.
 
 
 <b>Top Director Buys</b>
 
 Coastal Energy Co (DI) (CEO) 
 Director name: Mr Olivier De Montal
 Amount purchased: 10,000 @ 1,024.70p 
 Value: £102,470
 
 Sierra Rutile Ltd (SRX) 
 Director name: Mr Michael Barton
 Amount purchased: 20,000 @ 55.00p 
 Value: £11,000
 
 
 <b>Top Director Sells</b>
 
 Coastal Energy Co (DI) (CEO) 
 Director name: Mr Lloyd B Smith
 Amount sold: 3,000 @ 1,025.34p 
 Value: £30,760
 
 
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