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Buffett Sells PetroChina Shares Near Record Price

July 27, 2007 | About:

Warren Buffett's Berkshire Hathaway Inc. pared its stake in PetroChina Co. two months after the billionaire rejected investor demands to sell out of China's biggest oil producer because of links to Sudan.

Berkshire sold 16.9 million shares, reducing its share of the stock issued in Hong Kong to investors other than the Chinese government to 10.96 percent from 11.05 percent, the Beijing-based company said in a filing to the exchange today. Berkshire owns about 1.1 percent of the company's entire capital.

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