Comcast gets small bounce via Buffett.(Brief Article)
Multichannel News, August, 2004
PHILADELPHIA -- Comcast Corp. shares got a slight lift Aug. 17 after it was disclosed that widely followed investor Warren Buffett bought 5 million shares in the company for $147.9 million. Buffett, chairman of Berkshire Hathaway Corp., bought the shares through GEICO Corp., the auto-insurance carrier Berkshire controls.
Neither Comcast nor Berkshire listed the purchase in recent regulatory filings. GEICO revealed the purchase in a state regulatory document, according to Bloomberg News. GEICO bought the shares on April 30, two days after Comcast dropped its unsolicited bid for The Walt Disney Co. The total purchase price assumes that GEICO purchased the Comcast shares for about $29.59 each. The stock closed at $29.12 that day. Comcast had been...
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