WARREN BUFFET BUYS TESCO SHARES
By now, we’re pretty confident that everyone, even billionaire investors, has heard of the Tesco retail giant that will soon land on our west coast shore.
Tesco's “Fresh and Easy” U.S chain set to launch later this year has attracted the attention of billionaire Warren Buffett, according to Bloomberg news. Buffet purchased 177.8 million Tesco shares at a 2% stake through his company Berkshire Hathaway, Inc.
Knows as the “Wal-Mart of Britain,” some view Tesco’s move into the U.S. as a risky venture since other U.K. chains have not faired so well (Sainsbury, for example.) However, Tesco is at the head of British retail, and comes into the U.S. with a clean slate and desire to conquer. Want more proof of its likely victory? Warren Buffet, who has stakes in both Diageo and Anheuser-Busch, obviously thinks it’s going to be a success, which says a lot.
Many reports state that Tesco plans to build anywhere from 250 to 300 stores in the U.S., but in theory could support much more
Tesco's “Fresh and Easy” U.S chain set to launch later this year has attracted the attention of billionaire Warren Buffett, according to Bloomberg news. Buffet purchased 177.8 million Tesco shares at a 2% stake through his company Berkshire Hathaway, Inc.
Knows as the “Wal-Mart of Britain,” some view Tesco’s move into the U.S. as a risky venture since other U.K. chains have not faired so well (Sainsbury, for example.) However, Tesco is at the head of British retail, and comes into the U.S. with a clean slate and desire to conquer. Want more proof of its likely victory? Warren Buffet, who has stakes in both Diageo and Anheuser-Busch, obviously thinks it’s going to be a success, which says a lot.
Many reports state that Tesco plans to build anywhere from 250 to 300 stores in the U.S., but in theory could support much more
posted at 1:45 PM
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