Technology Industry
Industry: Email Alert RSS FeedBuffett purchases $320M of Nextel bonds, stock.(News)
RCR Wireless News, September, 2003
Stock market guru Warren Buffett has purchased approximately $320 million of Nextel Communications Inc.'s bonds and preferred stock since last year through his Berkshire Hathaway Inc. holding company, according to an insurance filing. The acquisitions reportedly include $155.6 million of bonds and preferred stock by Berkshire's General Reinsurance Corp.
subsidiary and $164.3 million of Nextel securities by Berkshire's insurance unit GEICO. Nextel's stock price jumped nearly $1 per share to $19.33 per share on heavy trading following the report.
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