: Warren Buffet’s Berkshire Hathaway cuts Activision Blizzard stake
Warren Buffett’s Berkshire Hathaway Inc. BRK.BBRK.A has cut its stake in videogame publisher Activision Blizzard Inc. ATVI to 1.9%, according to a securities filing late Monday. Berkshire was Activision’s No. 2 institutional shareholder previously, with a 6.3% stake bested only by Vanguard Group Inc.’s 7% stake at the time. The action came as a federal judge last week ruled against the Federal Trade Commission’s lawsuit to block the merger between Activision and Microsoft Corp. MSFT. The courts on Friday also denied the FTC’s appeal. Shares of Activision and Microsoft were down 0.6% and 0.1%, respectively, in the aftermarket Monday, after ending the regular trading day up 3.5% and 0.1%. Activision shares jumped 9% in the last week.
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