(Reuters) - Billionaire Warren Buffett's Berkshire Hathaway Inc
The move came two weeks after Tesco posted a decline in its first-half profit as earnings from mainland Europe tumbled 68 percent, and the grocer struggled to regain market share in its main British market. Tesco has been losing market share to rivals that include Wal-Mart Stores Inc's
Tesco has also suffered in recent years from failed attempts to break into the United States and Japan, and a costly, still unprofitable, expansion in China.
Filings on the London Stock Exchange website show that on October 16 Berkshire cut its holding in Tesco to 3.98 percent from 4.98 percent. Tesco has a market capitalisation of about 30.09 billion pounds.
Berkshire's Marmon Group announced on the same day that it agreed to buy two businesses from British engineering company IMI Plc
Tesco and Berkshire Hathaway could not be reached for comment late on Monday.
(Reporting by Richa Naidu in Bangalore. Editing by Andre Grenon)