On Tuesday BYD responded to recent speculation that its major shareholder Warren Buffett is set to sell his huge stake in the Chinese electric vehicle giant. BYD said there was no public information available regarding the reported move. Reports highlighting that a stake equivalent in size to Berkshire Hathaway’s holdings in BYD had appeared in Hong Kong’s clearing system sent the car company’s shares into a fall of 11.9% to HK$270.2 on the Hong Kong stock exchange on Tuesday. Berkshire was BYD’s fourth-biggest shareholder as of last year, with a 7.73% stake in the firm, according to regulatory filings. [Jiemian, in Chinese]
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