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Warren Buffett buys T-Mobile shares for $ 276 million

2020-11-17T13:56:01.798Z


Good numbers from T-Mobile apparently also convinced Warren Buffett. The investor buys shares of the Telekom subsidiary for 276 million dollars - and invests almost two billion in pharmaceutical manufacturers.


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Warren Buffett

Photo: Scott Morgan / REUTERS

US star investor Warren Buffett is investing heavily in the Telekom subsidiary T-Mobile US.

Buffett's investment company Berkshire Hathaway bought 2.41 million T-Mobile shares valued at approximately $ 276 million last quarter.

This emerges from a communication to the SEC.

Buffett's entry made the price rise significantly after the hours.

After the takeover of the smaller rival Sprint, business at T-Mobile was last brilliant.

In the third quarter, profit and sales increased surprisingly strongly.

The US mobile operator raised its annual targets and also announced that the merger with Sprint, which took place on April 1 after a two-year antitrust battle, would lead to cost reductions faster than originally expected.

The share price has been up 63 percent since the beginning of the year.

Buffett also invested more than $ 1.8 billion in US pharmaceuticals manufacturers Abbvie, Bristol-Myers Squibb and Merck & Co, and $ 136 million in Pfizer papers.

The four big drug producers could benefit in the fight against the corona pandemic by developing treatment methods and vaccines.

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dab / dpa / Reuters

Source: spiegel

All business articles on 2020-11-17

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