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American Express Company Message Board

  • Novalis_97 Novalis_97 May 12, 1998 1:04 PM Flag

    NY Post: Buffett planning on buying 17%

    From a May 10, 1998, article in the New York
    Post:

    "Buffett apparently has plans to buy a lot more American
    Express. Berkshire Hathaway already owns 10.6 percent of
    American Express, but has petitioned the Federal Reserve
    to allow increasing that stake to 17
    percent."

    The whole article is at:
    http://www.nypostonline.com/051098/business/2509.htm

    Buffett's plans to buy up to 17% of AmEx is what I have
    been saying all along. Apparently, the NY Post
    reporter, Beth Piskora, also read AmEx's "Notice of Annual
    Meeting" and saw the paragraph about how Buffett had
    petitioned the Federal Reserve to permit him to increase his
    AXP stake from 10.6% to 17%.

 
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