The antitrust lawsuits against Visa, Mastercard, Amazon and Apple filed by the Biden administration might harm their shareholders, including the company of legendary investor Warren Buffett, Berkshire Hathaway, an expert told Newsweek.Nearly half of the Omaha-headquartered holding company's $364 billion portfolio—42.9 percent—is invested in Apple, with Berkshire Hathaway currently owning a 5.9 percent stake in the tech company.
'The 'troika' takes a very simplistic antitrust perspective that, in short, 'big is bad,' he continued, adding that the Biden administration 'seems to ignore the fact that many firms become big because they serve customers with what they want, and do so more effectively than their rivals do.'Wu, Khan and Kanter have focused on 'fighting proposed mergers and revising or ignoring previous merger guidelines,' Hanke said.
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