Warren Buffett said Saturday that Berkshire Hathaway has acquired a 9.5% stake in Activision Blizzard, and made the most of that stake after Microsoft Corp. agreed to buy the video game company for $ 68.7 billion, according to Reuters agency.
Berkshire had previously announced that it owned a much smaller stake in Activision, which had been acquired by one of the portfolio managers helping Buffett invest Berkshire money.
Speaking at Berkshire’s annual meeting, Buffett said he was responsible for the additional investment and that Berkshire would report to regulators if Activision’s share exceeded 10%.
Berkshire announced earlier on Saturday that it had spent more than $ 51 billion in shares in the first quarter.
The company has invested billions of dollars this year in oil companies Chevron Corp and Occidental Petroleum as well as HP Inc.
Berkshire also agreed in March to pay $ 11.6 billion in cash to insurance company Alleghany.
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Source: Capital
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