GO
Loading...

Buffett's Berkshire Won't Bid for Royal Bank of Scotland's Insurance Unit - Dow Jones

Thursday, 15 May 2008 | 5:28 PM ET
A Royal Bank of Scotland logo is seen outside the company's offices in central London, Tuesday May 29, 2007.  A consortium led by Royal Bank of Scotland PLC said Tuesday it will launch a hostile bid of euro71.1 billion (US$95.5 billion) for ABN Amro, topping a friendly offer from Barclays PLC and pressing Bank of America Corp. for control of the Dutch bank's U.S. arm.  (AP Photo/Matt Dunham)
Matt Dunham
A Royal Bank of Scotland logo is seen outside the company's offices in central London, Tuesday May 29, 2007. A consortium led by Royal Bank of Scotland PLC said Tuesday it will launch a hostile bid of euro71.1 billion (US$95.5 billion) for ABN Amro, topping a friendly offer from Barclays PLC and pressing Bank of America Corp. for control of the Dutch bank's U.S. arm. (AP Photo/Matt Dunham)

Warren Buffett's Berkshire Hathaway won't be bidding for the insurance unit of the Royal Bank of Scotland Group, according to a report late today from Dow Jones Newswires.

It quotes Buffett's assistant, Debbie Bosanek, as saying, "Although we had looked at it, we are not participating in the bidding."

ALSO TODAY: BERKSHIRE REVEALS Q1 PORTFOLIO HOLDINGS - AMERIPRISE STAKE GONE

During a news conference at the Annual Shareholders Meeting in Omaha almost two weeks ago, Buffett had said Berkshire would take a look at the RBS unit, which is being sold to help rebuild the bank's capital position.

Current Berkshire price:

See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET

Questions? Comments? Email me at buffettwatch@cnbc.com

  Price   Change %Change
BRK.A
---

Featured