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Buffett Reduces Stake in PetroChina for Fourth Time

Warren Buffett’s Berkshire Hathaway Inc. sold PetroChina Co. shares for the fourth time in three months, banking an almost sevenfold gain since the U.S. billionaire first invested in China’s largest oil producer.Berkshire sold 45.138 million shares at an average HK$11.26 each on Sept. 13, a Hong Kong stock exchange filing today showed. That cut its stake to 7.99 percent of the stock not controlled by the Chinese government from 8.93 percent. The company remains the largest non-government shareholder.

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