Berkshire Increases Tesco Stake

Berkshire Hathaway (BRK.A) increased its Tesco stake from 2% of the retailer to 2.9% today. Tesco is Britain's largest retailer and plans on expanding into the U.S. West Coast with grocery stores in Arizona, California, and Nevada and in Asia (see Forbes article).

Bloomberg.com notes, "Buffett is realizing that with Tesco moving into the U.S. with a fantastic format and great management, they are the ones to back,'' said Chris Gower, an analyst at Man Securities in London. "I wouldn't be surprised if other investors start piling in. They look at Buffett as the shining light.''