Sunday, July 29, 2007

PetroChina's Shares Fall After Buffett's Berkshire Pares Stake in Company

(Bloomberg) -- Shares of PetroChina Co. fell after
Warren Buffett's Berkshire Hathaway Inc. reduced its stake in the
nation's biggest oil producer.

The stock dropped 4.4 percent to HK$11.24 at 10:29 a.m. in
Hong Kong, headed for its biggest two-day decline since August
2005. Berkshire sold 16.9 million shares for $27 million,
PetroChina said in a July 27 filing to the city's stock exchange.


Read more at Bloomberg Emerging Markets News

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