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Last Updated: Friday, 2 March 2007, 12:55 GMT
Tesco shares up on Buffett news
Tesco trolley

Shares in Tesco climbed as much as 2% on Friday after it emerged that a firm owned by the world's second-richest man had built up a stake in the chain.

Warren Buffett's Berkshire Hathaway investment company has bought 2.9% of the supermarket giant's shares.

Details were disclosed by Mr Buffett in a letter to his stakeholders.

Tesco shares have climbed about 12% in the past three months. They fell back to a 1% gain in intra-day trading by 1200 GMT on Friday.

Mr Buffett, who amassed his fortune from investments, is worth an estimated $44bn, according to Forbes magazine.

However, he said last year he was going to donate about $37bn (20bn) to Bill Gates' charitable foundation.

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