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2017-04-12 — bloomberg.com
Warren Buffett's Berkshire Hathaway Inc. is cutting its stake in Wells Fargo & Co. to less than 10 percent after the Federal Reserve told the billionaire's company that remaining above that threshold would limit its ability to do business with the bank.
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[Buffett] later said that criticizing a CEO could be seen as exerting too much influence. Buffett told CNBC in February that taking an active role while holding a stake of more than 10 percent could subject Berkshire to being declared a bank holding company, a tag that may bring increased regulation.
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