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Buffett pulls out of RBS insurance sale: report
Billionaire financier and Berkshire Hathaway CEO Warren Buffett plays bridge with cards with his picture on during the shareholders annual meeting in Omaha, Nebraska, May 4, 2008.
Credit: Reuters/Carlos Barria
LONDON |
LONDON (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has pulled out of the bidding in Royal Bank of Scotland's (RBS.L) 7 billion pound ($13.62 billion) auction of its UK insurance business, the Financial Times reported on Friday.
Berkshire told the FT it had looked at the business, which includes the insurers Direct Line and Churchill, but had decided not to bid, without giving a reason.
RBS was not immediately available to comment.
(Reporting by Erica Billingham; Editing by Quentin Bryar)
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