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BlackRock, the $9 trillion asset management giant, has stepped up its efforts to push the corporate world toward better governance and more sustainable business models.
Over the past year, it has taken on heavyweights like ExxonMobil and Warren Buffett’s Berkshire Hathaway and waded into the battle over political donations and lobbying by companies like Pfizer and Tyson Foods, according to BlackRock’s annual investment stewardship report, released Tuesday.
After Berkshire refused to engage in “direct dialogue” with BlackRock for years, the firm said it voted against two directors at Buffett’s company. That’s one high-profile example of the 6,560 times the asset manager voted against corporate management last year.
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Warren Buffett could bag a 60pc profit when Paytm goes public
Theron Mohamed
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Warren Buffettâs Berkshire Hathaway stands to make a 60 per cent profit on its Paytm shares if the Indian digital-payments group goes public this year as planned.
Paytmâs draft initial public offering prospectus was published on Friday, revealing the company hopes to raise up to $US2.2 billion ($3 billion) from its sharemarket debut. Mr Buffettâs company poured about $US300 million into Paytm in August 2018, valuing it at roughly $US10 billion at the time.
Berkshire still owns 17 million shares, or a 2.8 per cent stake, Paytmâs IPO filing shows. The fintech start-up was privately valued at $US16 billion in November 2019, according to Bloomberg. If it secures that valuation as a public company, Berkshireâs shares would be worth about $US480 million â a 60 per cent gain in three years.
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