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Buffett Pulls Out of RBS Insurance Sale: FT
Topics:Mergers & Acquisitions | Britain | Banking
Sectors:Banks | Insurance | Financial Services
Companies:Royal Bank of Scotland Group | Berkshire Hathaway Inc.
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Warren Buffett's Berkshire Hathaway has pulled out of the bidding in Royal Bank of Scotland's 7 billion pound ($13.62 billion) auction of its UK insurance business, the Financial Times reported on Friday.
Berkshire [BRK
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] 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.
Copyright 2008 Reuters. Click for restrictions.
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COMPANY : Royal Bank of Scotland Group
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