Warren Buffett buys £174m shares
According to reports, the US's second-richest man, Warren Buffett, has invested£174 million in Tesco, the UK's leading supermarket chain.

US billionaire Buffett is believed to have purchased 57.6 million shares in the grocer through his company, Berkshire Hathaway.

It is thought to be part of Buffett's strategy to diversify his portfolio and further expand his investments outside the US.

Buffett also has stakes in Asda owner Wal-Mart, clothing retailer Gap and US DIY chain Home Depot.

Tesco revealed profits of£2.2 billion last month, with impressive increases in domestic and international sales. According to the latest AC Nielsen figures, the chain has a 29.1 per cent share of the UK grocery market.

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