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Berkshire takes 2.9 pct stake in Tesco

Thu Mar 1, 2007 11:31pm EST

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NEW YORK, March 1 (Reuters) - Berkshire Hathaway Inc. (BRKa.N) (BRKb.N), the insurance and investment company controlled by Warren Buffett, has taken a 2.9 percent stake in Tesco, according to Buffett's annual letter to shareholders.

It wasn't immediately clear whether the stake was in the British retailer (TSCO.L). A call to Berkshire was not immediately returned.

According to the report, Berkshire owned 229,070,000 shares of Tesco at the end of 2006, worth $1.82 billion.

That share count represents 2.9 percent of the 8.03 billion weighted average diluted shares outstanding that British retailer Tesco had outstanding in the six months ended Aug. 26, 2006, according to Tesco's Web site.

It wasn't immediately clear when Berkshire began accumulating its Tesco stake. A published report last May, citing a regulatory filing, said Berkshire had taken a stake in the British retailer.

Tesco shares have climbed 12 percent in the last three months and 29 percent in the last year.

((Reporting by Jonathan Stempel, Reuters Messaging: jon.stempel.reuters.com@reuters.net, 646 223 6317)) Keywords: BERKSHIRE BUFFETT/TESCO

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