Warren Buffett Stake Confirmed by Munich Re

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Munich Re's CEO says Warren Buffett's Berkshire Hathaway holds a stake in the German reinsurer.

Thomson Financial reports that Nikolaus von Bomhard told the company's annual general meeting that he welcomes Buffett's investment. He didn't reveal its size.

Last week, a German newspaper reported Berkshire has bought one million shares of Munich Re over the past six months, about 0.5 percent of the company.

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