Warren Buffett buys T-Mobile shares for $ 276 million


US star investor Warren Buffett is investing heavily in the Telekom subsidiary T-Mobile US. Buffett’s investment company Berkshire Hathaway bought 2.41 million T-Mobile shares valued at approximately $ 276 million last quarter. This emerges from a communication to the SEC. Buffett’s entry made the price rise significantly after the hours.

After the takeover of smaller rival Sprint, business at T-Mobile was recently brilliant. In the third quarter, profit and sales increased surprisingly strongly. The US mobile operator raised its annual targets and also announced that the merger with Sprint, which took place on April 1 after a two-year antitrust battle, would lead to cost reductions faster than originally expected. The share price has been up 63 percent since the beginning of the year.

Buffett also invested more than $ 1.8 billion in US pharmaceuticals manufacturers Abbvie, Bristol-Myers Squibb and Merck & Co, and $ 136 million in Pfizer papers. The four big drug producers could benefit in the fight against the corona pandemic by developing treatment methods and vaccines.

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