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
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."
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.
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