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Warren Buffett raises stake in this small Chinese company
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Monday, August 31, 2009
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By Daily Crux Editor Sean Goldsmith:

Last September, Warren Buffett's MidAmerican Energy Holdings bought 10% of BYD, which makes batteries and electric cars, for $230 million. Now he's looking to buy more.

"MidAmerican has always intended to raise its stake in BYD because it believes BYD has good prospects in the development of renewable energy," said BYD Chairman Wang Chuanfu. "But we are still considering (whether to sell more)."

BYD shares jumped 8% on the news to HK$48.6 - more than six times what MidAmerican initially paid for the stock.

Read full article...

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Topics: Warren Buffett | China | Stocks
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