WARREN Buffett sold about HK$1.1 billion (US$140 million) of PetroChina Co shares, his second sale in two months amid calls for US investors to reduce holdings in China's biggest oil producer because of its links to Sudan.
The US billionaire's Berkshire Hathaway Inc sold 92.66 million shares at an average of HK$11.473 on August 29, reducing his stake to 9.72 percent of the stock not controlled by the Chinese government from 10.16 percent, a Hong Kong stock exchange filing showed yesterday. Berkshire made a more than sixfold gain on the sale, having bought its PetroChina stake for less than HK$1.70 a share in April 2003.