• Most Popular
  • Most Shared

Buffett pulls out of RBS insurance sale: report

LONDON
Fri May 16, 2008 2:05am EDT
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. REUTERS/Carlos Barria

Stocks

   

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.

Deals  |  Stocks  |  Mergers & Acquisitions  |  Global Markets

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)
Deals
Stocks
Mergers & Acquisitions
Global Markets


More from Reuters

Photo

Time Warner agrees to cooling-off period

NEW YORK (Reuters) - Time Warner Cable Inc said on Thursday it has agreed to a 30-day cooling-off period in its talks over fees with News Corp.

» More Top News
A picture of an arrow in this file photo. REUTERS/File
OUTLOOK 2010:

The coming Great Inflation

Real or imagined, Americans have plenty of things to worry about. Should inflation be one of them?  Full Article 

ECONOMY
REUTERS/Bernd Debusmann
Bernd Debusmann:

Killing people is easier than killing ideas

All the talk about hunting down those responsible for attacks on the U.S. has a familiar ring.  Commentary 

U.S.