Berkshire Hathaway reinforced his position he already had in a company with the purchase of 2.3 million shares for an approximate value of US $ 54 million.
Warren Buffett He decided to increase his position in Sirius XM. It is that his company bought 2.3 million shares of that company, and reaches US $ 200 million, 35% of the company. It should be noted that Sirius XM’s shares fell more than 50% in the last year, near its annual minimum.
Berkshire Hathaway: Why did he choose Sirius XM
Berkshire Hathaway increased its position in Sirius XM Holdings with the purchase of 2.3 million shares for an approximate value of US $ 54 million. This acquisition elevates Berkshire’s total participation in the Satellite radio company AU $ S2.9 billion.
Purchases were made between Thursday, Friday and Monday, with an average price of US $ 23.50 per share, according to a report submitted to the Bag and Securities Commission (SEC). After this movement, Berkshire now has 119.8 million shares, representing 35% of the capital of Sirius XM.
Sirius XM’s shares fell more than 50% in the last year and quote near their annual minimum. Despite this, Berkshire’s confidence in the company suggests a long -term vision. The investment of US $ 2,900 million reflects a strategic commitment in the satellite radio sector, which could recover in the future.
Source: Ambito
