Berkshire Hathaway sells 560,000 Moody’s shares, but still controls 12 pct of ratings agencyBy AP
Thursday, September 23, 2010
Buffett’s firm sells 560,000 more Moody’s shares
OMAHA, Neb. — Berkshire Hathaway Inc. has sold 560,000 more shares of credit ratings agency Moody’s Corp., but Warren Buffett’s company continues to control about 12 percent of Moody’s stock.
Berkshire still held 28.9 million Moody’s shares after the latest sales it reported to the Securities and Exchange Commission on Wednesday.
But that’s down considerably from the 48 million Moody’s shares that Berkshire held at the end of March 2009 before it started selling.
Berkshire said it sold 560,000 shares on Monday at an average price of nearly $25.73. So the sales generated more than $14 million for Buffett’s Omaha-based company.
Berkshire Hathaway Inc.: www.berkshirehathaway.com
Moody’s Corp.: www.moodys.com