Buffett still likes big stakes in Coke, American Express

AP News
Posted: May 02, 2016 7:31 AM

OMAHA, Neb. (AP) — Investor Warren Buffett says he would be willing to sell Berkshire Hathaway's big investments in American Express, Coca-Cola and other companies if he found a significantly better option, but he still believes in those companies.

Buffett appeared on CNBC Monday after meeting with roughly 40,000 Berkshire shareholders on Saturday.

Buffett's Berkshire Hathaway Inc. has held major stakes in American Express and Coca-Cola for decades, so the company would face a significant tax bill on the gains if he did ever sell those investments.

Buffett says the tax implications are a factor in his decisions.

Buffett says he likes owning roughly 15 percent of American Express' stock even though competitors are trying to develop a better way to process payments. Berkshire owns about a 9 percent stake in Coca-Cola Co.