May 5, 2014 / 11:46 AM / 4 years ago

Berkshire's Buffett says has 'no desire' to war with Coca-Cola -CNBC

NEW YORK, May 5 (Reuters) - Berkshire Hathaway Inc Chairman and Chief Executive Officer Warren Buffett said on Monday he had no desire to “go to war” with Coca-Cola Co and that U.S. companies were doing well under the current tax code.

“We had no desire, never will have a desire to go to war with Coca-Cola,” Buffett told CNBC regarding Berkshire’s decision to abstain from the shareholder vote on Coca-Cola’s equity compensation plan for executives, even though Buffett thought the plan was excessive.

Buffett told CNBC he had not spoken to Coca-Cola CEO Muhtar Kent since the company’s annual meeting on April 23.

Buffett, responding to criticism from activist investor Carl Icahn regarding Buffett’s decision to abstain from the shareholder vote, said, “I think our style actually would be more effective than the style that might be proposed by Carl.”

Buffett also said U.S. companies were flourishing under the current U.S. tax code.

“American business, I will tell you, whether it’s Berkshire Hathaway or Pfizer or Apple, are doing wonderfully under this tax code.” (Reporting by Sam Forgione; Editing by Jeffrey Benkoe)

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