No. of Recommendations: 1
" Abel quickly signals troubled Kraft Heinz stake could be toast
Just a few weeks after Greg Abel formally became the new CEO of Berkshire Hathaway, the company is apparently preparing to sell some or all of the Kraft Heinz shares it acquired in Warren Buffett's 2015 merger deal that has turned out to be a disappointment.
An SEC filing after Tuesday's closing bell by Kraft Heinz says Berkshire, by far its largest shareholder with a 27.5% stake currently worth $7.5 billion, may sell "up to" almost all its shares.
The filing doesn't necessarily mean Berkshire will sell, and it doesn't mean all the shares would be sold at the same time, but it's a strong indication some significant sales are coming.
Berkshire's quarterly 13F portfolio snapshots will probably be how we'll know if the position is shrinking. The report covering Berkshire's current quarter will be released in mid-May."
CNBC: Public 43712803 