German Newspaper: Buffett Bought 1 Million Munich Re Shares


The German national newspaper Frankfurter Allgemeine Zeitung, often referred to as FAZ, will report in tomorrow's (Thursday) edition that Warren Buffett's Berkshire Hathaway has bought one million shares of Munich Re over the past six months.

That news comes via Reuters, which says it received a preview of the report from the newspaper.

According to Reuters, the newspaper cites unidentified financial sources and notes it is not clear if Berkshire still owns the shares.

One million shares would represent a 0.5 percent stake in the German reinsurer. Stakes below 3 percent do not need to be disclosed in Germany.

Reuters quotes a Munich Re spokeswoman as saying it doesn't know anything about Berkshire owning a stake. As is the custom in Omaha, no comment from Berkshire.

Back in January, Berkshire bought a 3 percent stake in Swiss Refor about $800 million. As part of the deal, Buffett's company got 20 percent of Swiss Re's property/casualty business for the next five years.

Current Berkshire price:

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