Berkshire Hathaway announced its plan to sell approximately one-third of its stake in VeriSign, an internet infrastructure and domain name registry company. The total stake in VeriSign was valued at over $4 billion.
This decision marks a significant portfolio adjustment for Warren Buffett's conglomerate, which has held an investment in VeriSign since 2012. The sale will reduce Berkshire's exposure to the technology company.
The divestiture allows Berkshire Hathaway to reallocate capital from a long-term holding, potentially freeing up funds for other investment opportunities or contributing to its growing cash reserves.
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