The Wall Street Journal: Berkshire appears likely to back Wells Fargo directors

Top Wells Fargo & Co. shareholder Berkshire Hathaway Inc. is likely to vote in support of the bank’s directors in a potentially contentious shareholder meeting later this month, people familiar with the matter said.

Warren Buffett, Berkshire’s chairman and chief executive, has long been a supporter of the San Francisco bank and largely kept quiet as its sales-practices scandal erupted in the fall.

Berkshire BRK.A, -0.27%BRK.B, -0.36% said Wednesday it plans to sell 9 million Wells Fargo WFC, -1.92% shares to keep its ownership under 10%. The company said the sales aren’t due to a change in its investment view.

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