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On Sunday Warren Buffett reported that Berkshire Hathaway Inc insurance and investment company may be "close" to buying a medium-sized British company and "will look" at Royal Bank of Scotland Plc's possible divestiture of its insurance unit.
Published on May 5, 2008
According to a published report in the "Sunday Express", Buffett was exploring a bid for RBS' Direct Line home and motor insurance business,
Last month, RBS said it was considering the sale of all or part of RBS Insurance, Britain's second-largest general insurer, to shore up its balance sheet. Analysts and bankers have valued the business at up to 8 billion pounds ($15.8 billion).
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